Ashley Iaconetti and Jared Haibon Welcome First Baby, Son Dawson: 'So Sweet & Beautiful'

Ashley Iaconetti and Jared Haibon's baby boy has arrived!

The Bachelor in Paradise stars, both 33, welcomed their first child, son Dawson Demitri Haibon, on Monday, Jan. 31, the new dad announced on Instagram.

"Baby Dawson is here and healthy! Ashley is recovering and doing well! It really couldn't have gone much smoother 🙏 He's so sweet & beautiful and has been sleeping all day. Unlike his Mom and Dad who are on no sleep right now but it's totally worth it!" Haibon writes alongside a video of himself announcing the news.

"The labor went well," he says in the clip. "Ashley is recovering right now. Dawson is doing well, just wanted to give you an update. Thank you to everyone who's been asking."

Listen below to an interview with Ashley Iaconetti on our daily podcast PEOPLE Every Day.

"We haven't slept obviously, so we're gonna eat we're gonna sleep and we're very excited for you guys to see Dawson," Haibon adds, giving the camera a thumbs up.

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During an Amazon Live last month, the couple shared the sweet cinematic inspiration behind the name of their baby boy. The newborn's moniker is inspired by Leonard DiCaprio's Titanic character, Jack Dawson, "one of Ashley's loves," Haibon said, noting that Iaconetti even brought up the idea for the name when the couple was "just friends."

"Naming a kid after a Leo character is very natural for us," Iaconetti added.

As for their son's middle name, the couple said Demitri was simply a name they both liked.

Iaconetti also opened up on Instagram earlier this month about her anxieties around giving birth, opening a business with Haibon and moving into a new home.

"I haven't done a New Year's post until now because Jared and I were the crazy people who bought a house and opened a business the month I'm eight months pregnant," she began. "It's been an undertaking to say the least. I'm usually pretty nostalgic around New Year's, but this year I wasn't really. I think it's because I truly spent half of the year nauseous. 😂"

Iaconetti also admitted she is "petrified of delivery" and has been "anxious to find out how I'll adjust to life as a parent."

Iaconetti and Haibon first announced that were expecting their first baby together in July after previously sharing that they were actively trying to conceive earlier in the year.