Kate Middleton, aka the Duchess of Cambridge, gave birth to a baby boy at 4:24 p.m. on Monday at St. Mary's Hospital in central London. The long-awaited royal baby, who weighed in at 8 pounds, 6 ounces, is the first child between Middleton and Prince William.

The baby comes a little more than two years after the couple got married on April 29, 2011. The baby does not yet have a name, but his parents are expected to announce one in the next several days.

"Her Royal Highness and her child are both doing well and will remain in hospital overnight," read the birth announcement from Kensington Palace. "Members of both families have been informed and are delighted with the news."

What else should you know about the royal baby?

1. The baby will be third in line to the throne
Poor Prince Harry. The baby bumps him down to fourth in line to the crown. Meanwhile, the young prince takes his place behind his father, Prince William, and Prince Charles, who has waited more than 60 years to be king — making him the longest-waiting direct heir to the crown in British history.

Queen Elizabeth II, 86, had a mother who lived to 101, which means they royal baby could be waiting a long time to be king. In fact, if Prince William lives to be 80 years old, the royal baby wouldn't be king until 2062.

2. The baby could have one of several surnames
Wales, Mountbatten-Windsor, or Cambridge? The baby could have any one of these surnames, provided his parents want to give him one at all. Technically, the baby doesn't need a surname, and the royal family only started adopting them in 1917.

The future king's name will be a matter of preference. His parents are the Duke and Duchess of Cambridge, and its possible that they could give him Cambridge as his last name. Wales would come from his grandfather, Charles the Prince of Wales; Charles' own sons were officially known as William and Harry Wales in their youth.

Queen Elizabeth II's grandfather, George V, changed his family's name to the House of Windsor. Elizabeth married Prince Phillip, who shed his Greek and Danish titles to take his mother's maiden name, Mountbatten. The couple decided that all of their children would be known under the surname Mountbatten-Windsor.

3. The baby's official title: His Royal Highness Prince (name) of Cambridge
The baby will officially be known as His Royal Highness Prince (insert name here) of Cambridge, a title shared with one other royal: The HRH Prince George of Cambridge, the grandson of King George II born in 1819.

4. The baby is the second future king or queen of England to be born in a hospital
The only other future monarch to be born in a hospital bed? Prince William, who was also born at St. Mary's Hospital, in 1982.

Yes, Prince Harry was born in a hospital as well, but he isn't in direct succession to the crown. Prince Charles was born in Buckingham Palace in 1948.

5. The royal baby is a Cancer
The pressing question of whether or not the royal baby would be a Cancer or a Leo has been answered. The baby's birth on July 22 marks him as a Cancer, just like his father, Prince William, and the late Princess Diana.

6. He is the first royal baby to meet his great-grandparent in 120 years
Queen Elizabeth II is the first serving monarch to meet her great-grandchild in 120 years, when Queen Victoria was around to meet Edward VIII in 1894. Edward eventually abdicated the throne.

7. The baby will grow up in a palace
Yes, the baby will have royal accommodations at Kensington Palace, where both William and Harry grew up.

8. The baby could be a boon to the British economy
The baby could pump $380 million into the sluggish British economy, estimates the U.K.-based Centre for Retail Research. A total of $92 million of that could be spent on booze, while $240 million is expected be spent on novelty tchotchkes.