Though the gossip world has been buzzing like crazy about the impending birth of Ashlee Simpson and Pete Wentz’s baby, Pete reports that it’s not time just yet.

The Fall Out Boy bassist was forced to skip the big MTV “Total Finale Live” last night, as Simpson had reportedly gone into labor. And as he phoned into the festivities, Wentz reported that they’re still waiting for little baby Simpson-Wentz to arrive.

He assured fans, “Nothing’s happened yet!” Pete also reported that they still haven’t decided on a baby name.

As for how he and his wife spent their weekend of waiting, Wentz joked, “I went to Chinatown, picked up a bootleg version of Twilight and watched it like, 72, times.”

Source:www.celebrity-gossip.net

Taking a night for himself, Pete Wentz was spotted out and about in Studio City, California, grabbing some dinner with friends at La Loggia restaurant.

The Fall Out Boy bassist did his best to avoid the paparazzi while looking hot in a grey tweed newsboy cap, black and grey striped sweater, black jeans, and black leather side-zip boots.

Ashlee to “hold on for dear life because it’s a ride,” in reference to her impending parenthood.

Joe continued, “I can’t be more excited, Ashlee looks beautiful and we’re excited. I’m almost a grandfather, I’m too young but I’m happy.”

Source:www.celebrity-gossip.net

Mr. Bad Boy himself, Sean ‘Diddy’ Combs, could not keep it together when Barack Obama was announced President-elect Tuesday night.

“I was straight up crying,” he confesses. “I was with my kids. It was a beautiful thing. I just thank God my prayers were answered.”

A greater gift? It happened on his 39th birthday.

“I don’t know why God blessed me by having my birthday %26#91;on Nov. 4%26#93;, but we’re here to celebrate 80 percent of Obama being elected and 20 percent my birthday,” Diddy told reporters Wednesday night at a celebration sponsored by Ciroc Vodka at Mansion nightclub in New York.

Some of his celebrity guests: Mary J. Blige, Ben Stiller, Cassie, Cedric the Entertainer, and Pete Wentz.

“I have a ‘You Voted’ sticker in %26#91;the%26#93; baby book,” says Wentz.

Meanwhile, Cedric the Entertainer says his son Croix, 8, was full of questions: “‘What does the president do and what does it mean? And how old is Barack’s little daughter?’” I was like, ‘That’s what I’m talking about,’” the comedian joked. “‘Make that move!’”

On a more serious note, he says: “It was elating and it was just amazing talking to %26#91;him%26#93; about it.”

Though she wasn’t at the birthday party, Beyoncé Knowles did rearrange her schedule to make sure she would be in America on election night. The R%26B starlet was scheduled to promote her upcoming album, I Am … Sasha Fierce, in Japan but postponed her apperance at the last minute.

“I said, ‘What am I doing? I’m completely making a bad decision. I have to go home, I’m gonna kill myself if I’m not home in America,’” she told the AP. “I knew I needed to be here.”

Knowles watched the election results at home with friends and family - while wearing a blue suit and tie with matching red, white and blue stilettos.

“I’ve never been so patriotic!” she said. And, like Diddy, she was moved to tears. “I fell asleep crying and smiling at the same time … I woke up with mascara running and a smile on my face!”

Should Obama require her services, the singer is game: “Whatever they want - if they need me to volunteer, they need me to sing, I’m there and I’m ready.”

But what is most important, Knowles said, is that the newly elected president has provided inspriration for African Americans.

“My nephew, who is 4, when we say, ‘You can do whatever, you can be whatever,’ it’s not cliche,” she explained.

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Source:www.People.com

Oprah Winfrey has long been Barack Obama’s No. 1 fan, so it’s no surprise she wasted little time in speaking out about the Democrat’s historic victory Tuesday night.

“It feels like hope won,” the TV icon told Britain’s BBC. “It feels like there’s a shift in consciousness. It feels like something really big and bold has happened here, like nothing ever in our lifetimes did we expect this to happen.”

The talk-show host was on hand in Chicago to watch Obama’s victory speech, along with Brad Pitt and Jesse Jackson.

Meanwhile, in Los Angeles, Courteney Cox and hubby David Arquette hosted a Barack Obama victory party Tuesday night at their Beverly Hills home, E! Online reports. Jennifer Aniston, Sacha Baron Cohen and Isla Fisher were reportedly among the guests.

• Actor George Clooney: “I congratulate President-elect Obama on his historic victory, and now it’s time to begin unifying the country so we can take on the extraordinary challenges that this generation faces.”

• Singer Usher: “This will go down in history, in black history, for all of the sacrifices that the great Joseph Lowery and Martin Luther King made, this actually pays off for their sacrifice. … I’m speechless. I don’t even know what to say.”

• Music mogul Diddy: “I felt like my vote was the vote that put him into office. … And that may not be true but that’s how much power it felt like I had.”

• Fall Out Boy’s Pete Wentz to PEOPLE: “My parents met working for %26#91;Obama’s running mate on one of his early campaigns%26#93;. If it weren’t for Joe Biden, I would not exist as a human being. … I am proud to be a part of history in the making.”

• Former Secretary of State Colin Powell: “We’re very, very proud to have a new American President who also happens to be African-American … As I watched %26#91;the news anchors call the election%26#93; - pretty moving moment. Everybody cried … I am overjoyed.”

RELATED GALLERY:
• The Obamas spill on family life on the cover of PEOPLE!
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• 25 Questions for Barack Obama

Source:www.People.com

With a whimsical Winnie the Pooh theme, Ashlee Simpson-Wentz celebrated a baby shower with family and celebrity friends, including sister Jessica Simpson and pal Nicole Richie, who brought daughter Harlow.

“She was glowing and insanely happy,” says a source. Proud-dad-to-be Pete Wentz, 28, even stopped by the Saturday shower at the Hotel Bel Air. “He was so excited too!”

The guests, who also included Simpson-Wentz’s mother Tina and actress Emmy Rossum, dined on home-style food in keeping with the Simpson family’s Southern roots: chicken and mashed potatoes.

Simpson-Wentz, 24, received numerous presents including gift bags from Kitson Kids and a mini Burton snowboard outfit and matching gear.

Source:www.People.com

Pete Wentz says wife Ashlee Simpson-Wentz is due to give birth any minute.

“She is very pregnant,” the Fall Out Boy bassist told Ryan Seacrest on Thursday. “I am on call permanently right now. She’s at the very end, and it could happen at any point.”

Wentz, who will attempt to break a world record for most radio interviews in 24 hours with band-mate Patrick Stump on Friday, adds that Simpson-Wentz, 24, is “excited” to become a mom.

“She (feels) hot all the time,” says Wentz, 29, joking that the couple’s thermostat is set to 34 degrees. “I think she wants to just be not pregnant anymore. … It’s a struggle to go up and down the stairs. Going out in public is insane.”

“I want to meet (the baby) first,” says Wentz, adding that he has a formula in place for when the time comes. “My friend said it - you’ve gotta have a baby with a name that could be a rock star or a senator, so he’ll get work either way.”

Source:www.People.com

Pete Wentz’s well-known gift of gab will come in handy as he and Fall Out Boy frontman Patrick Stump attempt to break a Guinness World Record of most radio interviews by a pair completed in 24 hours.

The two band members will attempt to hit as many radio stations as possible across America on Oct. 31 beginning at 3 a.m. PST at Premiere Studios in Los Angeles, the band announced Friday.

The current record is 57 radio stations in 24 hours, completed in May 2008.

Fall Out Boy will release their third album, Folie A Deux, on Dec. 16.- Ken Lee

Source:www.People.com

Life wasn’t always quite so picture perfect for Fall Out Boy bassist and soon-to-be-father Pete Wentz.

Despite being a hugely successful rocker married to a sexy pop star, Wentz battled depression for a long time and came close to death twice, he says in a candid interview for Playboy’s October issue.

Wentz, 29, also shared some good news: he and pregnant wife Ashlee Simpson-Wentz are fairly certain they’ll be having a boy in November.

Wentz says his drinking and drugs led to dangerous activities. “I pulled a trigger on a gun aimed at myself” during a game of Russian Roulette, he says. “My friend and I did one pull each. We’d been drinking and had taken Ambien.”

Recalling a drug overdose, “I took a handful of Ativan,” he says. “It had more to do with being depressed. I wasn’t thinking of killing myself. I’ve never really called it a suicide attempt. I just wanted my head to be completely turned off.”

Thanksgiving Baby

Wentz says wife Ashlee will give birth to the couple’s first child around Thanksgiving. And while “we know with 90 percent accuracy that it’s a boy,” he says, the couple is still playing the name game - with some help from pals.

“My friend Andrew said, ‘Your kid has to have a name that would fit either a rock star or a senator.’ ”

As for the possibility of having Dallas Cowboys quarterback Tony Romo - who is dating Ashlee’s sister, Jessica Simpson - as a brother-in-law, Wentz says, “I like Tony a lot. He’s a rad dude and we’re both into Guns N Roses.”

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Pete Wentz is already facing his first daddy dilemma. As a Chicagoan, will his baby with wife Ashlee Simpson root for the Cubs or the White Sox?

“If my dad has anything to say about it, I’m sure he will be a Cubs fan.” the Windy City native told PEOPLE Sunday at the Nike + Human Race at Soldier Field in Chicago. “If my friends have anything to say about it, it will probably be a Sox fan. So, knowing me, it will probably come out a mathematician.”

The Fall Out Boy bassist has definitely been studious in his fact-finding mission about fatherhood. Besides reading books including The Expectant Father, Wentz, 29, said one famous friend in particular has been a wealth of information.

“Joel %26#91;Madden%26#93; gives me advice,” Wentz said of the Good Charlotte rocker, who’s dad to 7-month-old daughter Harlow with girlfriend Nicole Richie. “%26#91;It’s%26#93; been really awesome for me to go to another person my age.”

So, could the song end up on Simpson’s labor playlist? “That’s probably going to be all up to Ashlee - what she picks,” Wentz said. “I couldn’t be like, ‘Oh, you’re going through labor, here’s the music I want you to listen to.’ So, it’s whatever she picks.”

That may include his own vocals. Wentz said he sings to the baby “late at night …. Baby’s gotten a couple lullabies.”

In a recent posting on Simpson’s blog, she joked that while she’s pregnant, her “closet full of size 0’s are being worn by Pete right now and he looks hot in them.”

Ryan Cabrera rarely sees his former flame Ashlee Simpson these days, but he saw enough in their relationship that he doesn’t doubt her parenting ability.

“She’ll be a great mom,” the singer told PEOPLE Friday at the opening of Yellowtail Sushi Restaurant in Las Vegas.

Recently Simpson, 23, said she and husband Pete Wentz, 29, have been busy baby-proofing the house and getting a nursery together. None of this surprises Cabrera about the couple.

“It’s a good family. It will be a good home.”

In a recent posting on her blog, Simpson denied the Internet rumor that she cried and went shopping for size 0 jeans after her doctor told her she’d gained too much weight. “1. My doctor says I am right on target with my weight gain. 2. Have not been to Planet Blue in at least two years. 3. Love my maternity jeans … they have stretchy tops it is awesome!” the singer writes.

“Carrying a child is the most inspiring, emotional, amazing experience of my life,” Simpson continues. “My weight and my pant size are the absolute last thing I am concerned about. I am only concerned with having a healthy pregnancy and a healthy baby. People who talk and judge pregnant women’s weight need to get a life!!!”