Matthew McConaughey and his wife Camila Alves welcomed their third child on Friday in Austin, Texas and have named their newborn son Livingston Alves McConaughey.

"Camila (@iamcamilaalves) gave birth to our third child yesterday morning. Our son, Livingston Alves McConaughey was born at 7:43am on 12.28.12. He greeted the world at 9lbs. and 21 inches. Bless up and thank you for your well wishes. Happy New year, and just keep livin, Camila and Matthew McConaughey," the couple wrote on McConaughey's WhoSay page.

According to The Hollywood Reporter, Alves announced she was pregnant in July just one month after the couple had their wedding in Austin. They also have two other children together, 3-year-old Vida and 4-year-old Levi.

Up next McConaughey will be seen in The Dallas Buyers Club which is set to be released next year. He dropped 40 pounds for his role portraying Ron Woodruff, a man dying of AIDS who helps bring HIV medication into the U.S. from Mexico, reports the New York Daily News.