People magazine is reporting that the couple gave birth to Leo Grey McElhenney at 1:15 a.m. The baby boy came in at 8 lbs., 5 oz. and is 20 inches long.
“We are overjoyed,” the couple says in a statement.
This is the second child for the couple. Axel Lee is 19-months old.
Olsen and McElhenney married in 2008.