Michael Phelps is expecting his third baby with his wife Nicole

Former Olympian Michael Phelps revealed his happy news in the most adorable way.

Michael took to Instagram to share an adorable picture of his two sons, Beckett, one, and Boomer, two, sitting in a toy car decorated with gold balloons spelling out the word ‘BABY’.

‘#3 on the way!’ he wrote in the caption. ‘Can’t wait to see the journey that this takes us on!!! #luckyman #boyorgirl #P3.’

Michael married his wife Nicole, who is a former Miss California, in a secret ceremony in June 2016, just one month after their first son, Boomer Robert Phelps, was born.

The couple announced the birth of their second son, Beckett Richard Phelps, last February.

The post has already had more than 250,000 likes, and fans have been quick to offer congratulations.

‘You won’t believe how much bigger your hearts will get with #3,’ said one.

Several people commented that Michael, who won 65 gold medals during his swimming career, would only be one short of an Olympic relay team once the new baby was born. ‘Y’all r creating your own little swim team!!’ said one user. ‘..and the ultimate relay team will be 75% complete!!’ said another. ‘Congrats, y’all!’

Another joker commented that the Olympic medallist ‘must have strong swimmers!’

The post’s #boyorgirl hashtag sparked debate on whether Boomer and Beckett would be joined by a third brother or their first sister. Most seemed to think a girl would be the perfect addition to their sweet family group.

‘Hoping for a female Phelps swimmer,’ one fan admitted. ‘Probably a boy but hoping a girl,’ another commented. ‘Congratulations! The boys need a little sister,’ said another follower.

Others got straight down to business – picking potential baby names (beginning with a ‘B’ of course) for the new baby. ‘Bebe for a girl and for a boy Blaze,’ one follower suggested, while another offered Brandon or Bryce for a boy and Brooke or Bella for a girl.