The reports come after the Mara and Mine footwear co-founder was very noticeably aglow during a recent photocall at Sydney’s The Strand Arcade.
As Jasmine posed with designer Tammy Ingham, she appeared to have a slightly fuller figure.
While Karl confirmed back in 2010 that he’d had a vasectomy after the birth of his three children, Jackson, 19, Ava, 13, and River, 12, with his ex-wife Cassandra Thorburn, insiders revealed to The Daily Telegraph that Karl had "undergone vasectomy reversal surgery and was trying for a baby."
New Idea recently heard that the TV host is expecting a baby with Jasmine - who he married in Mexico last year.
"An announcement on Karl and Jasmine’s much-anticipated first child is very much imminent and expected in the coming weeks," the source said.
"The timing is not yet right for them to go public, but such a reveal is getting closer by the day.
"Karl and Jasmine are bursting with excitement!’
The source says Karl and Jasmine recently travelled to Queensland to share the news with her grandmother, Isabel Hollingworth.
"It cannot be overstated how overjoyed she was to learn of the news. She was delighted and so very proud," the source added.