The 38-year-old actress - who has been dating clothing designer Jason Bleick for the past year after meeting while working alongside one another on the EVER fashion line - is said to be "ecstatic" about the couple`s impending new arrival.
After her representative confirmed the news to People magazine, a friend of the `Hellboy` star said: "They are ecstatic. They couldn`t be happier."
Prior to meeting Jason, the brunette beauty - who was married to musician Ahmet Zappa for two years - admitted while she was enjoying spending time with her girlfriends, she was still on the lookout for someone who made her feel good about herself.
She said: "I`ve just been reconnecting with my friends. I want someone who makes me feel good, if you know what I mean!"
However, Selma - who has been spotted wearing a ring on her engagement finger in recent weeks - admitted she had "little faith" she`d ever find her soulmate.
She explained: "I have very little faith that I`ll ever find someone. I`ve had some bad luck and I`ve made some bad choices - not in men, but in how I`ve chosen to deal with relationships."