Simon Cowell's Girlfriend Lauren Silverman is in Labor! (UPDATE: BABY BOY Eric COWELL IS BORN!)

The baby watch begins! Simon Cowell’s girlfriend, Lauren Silverman is in labor and has been admitted to a New York City hospital!

Simon Cowell’s first baby is on the way — his girlfriend Lauren Silverman is in labor, and has checked into a New York City hospital … and Simon is racing to get there before the kid arrives.

Sources close to Lauren tell TMZ she went to Lenox Hill hospital in Manhattan (Upper East Side, of course) within the last few hours — and immediately sent up the baby signal … alerting Simon to get on a private jet bound for NYC.

He’s been in London shooting one of his competition TV shows.

If Lauren has the baby today — they’re expecting a boy — we’re told she’d be about a week and a half early, but it’s nothing to worry about.

Happy Valentine’s Day, Simon.

via TMZ

Before you know it, we’re going to have a little Simon Jr. to coo over!

UPDATE: Baby Boy Cowell is born! Via EOnline:

The music mogul was by Silverman’s side when the couple’s bundle of joy arrived, skipping out on Britain’s Got Talent auditions in London and hopping on a private plane headed straight to NYC so he could be present for the birth of his son.

“He has had a plane on standby for a week,” a source said. Cowell’s rep was not immediately available for comment.

Lauren’s parents were also in the delivery room when the 36-year-old went into labor and her sister went straight to the hospital once she got wind of the baby news. The NYC socialite’s 8-year-old son, Adam, with ex-Andrew Silverman, was not present, “as it’s President’s Day weekend and he had a pre-planned vacation with his father,” another source revealed.

So have the new parents picked out the little one’s moniker?!

Yes—but the atypically tight-lipped Cowell has yet to share the news with the public.

Simon’s rep tells Us the baby was born at 5:45 p.m. EST and weighed in at 6 pounds, 7 ounces.

UPDATED: Simon tweeted that they named the baby after his late father, Eric Cowell, who died in 1999.