Exit Conan, enter Axel!
Hours after performing "Free Bird" on the final "Tonight Show with Conan O'Brien," comedian Will Ferrell and wife Viveca Paulin welcomed their third son.
Axel Ferrell arrived Saturday morning, Jan. 24, in Los Angeles, the actor's rep confirms to PEOPLE exclusively, adding, "All the Ferrells are well." The baby boy joins older brothers Magnus, 5 ½, and Mattias, 3.
Ferrell and Paulin, 40 — who met in an acting class 15 years ago and wed in 2000 — announced the pregnancy in September.
Ferrell, 42, will next appear in "The Other Guys," set to be released in August.