Mariah Carey is rumored to be pregnant with new billionaire boyfriend James Packer's child.

New Idea magazine reports the 45-year-old "Hero" crooner and her 47-yeard-old Australian beau are ecstatic about the news.

"Mariah found out the baby news recently and they're overjoyed at the prospect of being parents," said a source. "She adores James and it's well-known within her social circle that she would love to have children with him."

Nick Cannon's soon-to-be-ex and Packer went public with their relationship earlier this summer when they were spied vacationing in Capri. Since then, the two have been rumored to be on the fast track and already discussing marriage and the prospect of her relocating to his native Australia just six months after Cannon filed for divorce after six years.

"A wedding isn't something Mariah would have considered a month ago, but now she's head over heels for James and wants to marry him," a source said. "It's been a whirlwind. Her head is spinning from the light-speed love affair."

Carey and Cannon are already the parents of twin 4-year-olds Monroe and Moroccan, and news of her considering a move abroad is rumored to not sit well with the 34-year-old "America's Got Talent" host.

"He's always been worried about Mariah drinking around the children, and I'm sure he will use that to his advantage," a source told In Touch magazine, predicting he may be planning to contest his ex every step of the way. "There is no chance those kids will be leaving the country."

Reports are Carey and Cannon were living apart for several months before he formally filed for divorce.

Meanwhile, Packer, owner of a multibillion casino empire, has three children from his first marriage to Erica Baxter.