Duke and Duchess of Cambridge Welcome their First Son! Wishes Pour in From Around the World (PHOTOS)

Finally the wait is over! The royal baby is here. The Duchess of Cambridge Kate Middleton and Prince William welcomed their first child, a son, Monday.

The birth of the little prince was formally announced through a statement issued by Kensington Palace saying that the duchess "was safely delivered of a son" at local time 4:24 pm. The baby weighed  8lbs, 6 oz.

"The Duke of Cambridge was present for the birth," the statement said. "The Queen, The Duke of Edinburgh, The Prince of Wales, The Duchess of Cornwall, Prince Harry and members of both families have been informed and are delighted with the news.

Delighted new father William expressed his feelings saying "We could not be happier," in a short statement. He will remain overnight with the baby and Kate. The Queen and the Duke of Edinburgh are "delighted" over the news, the palace said in the statement.

The news made the crowd excited, who gathered outside St Mary's Hospital and Buckingham Palace, eagerly waiting for the announcement. "This is the best Monday in my life," one of the well-wishers told The Guardian.

Congratulations poured in for the new parents from different corners of the world as the announcement was made. The U.S. President Barrack Obama issued a statement to wish Kate and William. "Michelle and I are so pleased to congratulate The Duke and Duchess of Cambridge on the joyous occasion of the birth of their first child," he said. As if this was not enough, the U.S. First Lady congratulated the couple saying that being a parent is the "best job of all."

New Zealand welcomed the arrival of the British royal baby by holding a 21 gun salute for the new heir outside the parliament in Wellington, The Guardian reported. This was attended by the prime minister and leader of the opposition. New Zealand High Commission in Australia said that there are plans across Australia to illuminate 37 landmarks this evening to mark the birth.

The baby is third in succession to the British throne, following his grandfather Prince Charles and father Prince William. This is, in fact, for the first time that there are three heirs in waiting when the Queen is hale and hearty. This will put William's younger brother Prince Harry fourth in line to the throne. The name of the baby will be styled as 'His Royal Highness Prince (Name) of Cambridge.'

A Similar situation happened some 120 years ago when Edward VIII was born in 1894 while Queen Victoria reigned until 1901, reported the Express.

Now that the royal baby has arrived, well-wishers will be waiting to catch a glimpse of the newborn and also for the name to be formally announced.