If you watched Conan O’Brien’s final Tonight Show, then you saw Will Ferrell close out the show by singing Free Bird with a very pregnant woman standing behind him. That lady is actually Will Ferrell’s wife, Viveca Paulin, and she gave birth to their third son only hours after the taping. The couple named their son Axel Ferrell and he arrived on Saturday morning, Jan. 23, in Los Angeles.

Will’s rep confirms the news saying, “All the Ferrells are well.” Baby boy joins older brothers Magnus, 5 ½, and Mattias, 3.

Will, 42, and Viveca, 40, met in an acting class 15 years ago and married in 2000.

Conan O’Brien and NBC have reached a $45 million deal for the red-haired host to exit The Tonight Show.

This deal comes only seven months after Conan took over The Tonight Show. O’Brien will get more than $33 million, NBC says. The rest will go to his 200-strong staff in severance pay.

Conan’s final show will be Friday, with Tom Hanks scheduled to appear as well as Will Ferrell – the first guest O’Brien welcomed as “Tonight” host last June – and musical guest Neil Young.

“In the end, Conan was appreciative of the steps NBC made to take care of his staff and crew, and decided to supplement the severance they were getting out of his own pocket,” his manager, Gavin Polone, told The Wall Street Journal. “Now he just wants to get back on the air as quickly as possible.”

O’Brien will be free to begin another TV job as soon as September, NBC said. There has been speculation on where he might go next. ABC (which airs “Nightline” and “Jimmy Kimmel Live!”) has said it wasn’t interested, while Fox, which lacks a network late-night show, expressed appreciation for his show – but nothing more. Comedy Central has also been mentioned.

Jay Leno will return as host of The Tonight Show on March 1.

Will Ferrell, 42, and his wife Viveca Paulin, 40, are expecting their third baby, a boy, due in January the actor’s rep confirms.

Ferrell and his art auctioneer wife are already parents to sons Magnus, 5, and Mattias, 2.

The couple met at an acting class in 1995 and wed in August 2000.

Ferrell last starred in this summer’s Land of the Lost, and earlier this year his Broadway show, featuring his famous George W. Bush impersonation, was nominated for a Tony. Will is currently filming the action/comedy The Other Guys, which costars Mark Wahlberb, Samuel L. Jackson, Eva Mendes and Dwayne “The Rock” Johnson.

According to Forbes’ second annual ranking of the most (and least) bankable actors in Hollywood, Nicole Kidman’s films earn a mere $1 for every dollar Kidman was paid, compared with $8 in 2007. “The Invasion,” a second remake of the 1956 classic “Invasion of the Body Snatchers,” actually lost $2.68 for every dollar Kidman earned.

To compile the list, they looked at each star’s last three films that opened wide before Jan. 1 (in order to give each film time for a DVD release). They didn’t count animated movies, supporting roles or anyone consistently earning under $5 million per movie.

Here’s the list of overpaid actors/actresses.
1. Nicole Kidman
2. Jennifer Garner
3. Tom Cruise
4. Cameron Diaz
5. Jennifer Lopez
6. Jim Carrey
7. Nicolas Cage
8. Drew Barrymore
9. Will Ferrell
10. Cate Blanchett

Yes, in an interesting attempt at movie marketing Will Ferrell posed for a slew of shots with supermodel Heidi Klum in the 2008 Sports Illustrated Swimsuit Edition to promote his basketball movie, Semi-Pro in theaters February 29th.

Go on over to YourMovieStuff.com to see the other pictures.  Pretty funny!