Yes, he and wife Jessica Biel are expecting their first child, and rumors of said offspring have been floating around since last fall.
Timberlake also apparently took this selfie, which his boy or girl will gaze upon one day. Sources say Blue Ivy and the coming Timberlake-Biel child have already signed a record deal.
Photo via J Vettorino/Flickr (CC BY 2.0)