"I can't wait to provide this baby with the tools to become a beautiful, kind person," Chmerkovskiy, 36, told the magazine. "And they'll have the best sneaker collection."
"I'm looking forward to nurturing something and just having the baby be the center of our world," said 29-year-old Murgatroyd, who is currently in her second trimester. "I'm looking forward to putting all our energy into this beautiful soul."
As of now, they don't know whether a girl or boy is on the way, so Chmerkovskiy joked, "We'll be in trouble with a little me running around, so hopefully they'll be a lot like Peta."
A baby apparently wasn't part of the couple's plan until after their Summer 2017 wedding, however, they're seeing the bright side of things.
"The timing is perfect, actually," noted Murgatroyd. "I'll have the baby in January and then I'll still have about six months to prepare for the wedding."
"The baby will make a wonderful addition to the wedding party," added Chmerkovskiy. "A wonderful, tiny addition."
The pro dancers, who dated on and off since 2012, are enjoying life on the road together, as Chmerkovskiy is starring alongside his brother Val Chmerkovskiy in Maks & Val: Live on Tour.
Murgatroyd and Chmerkovskiy first learned about the pregnancy only a few weeks into Season 22 of Dancing with the Stars.
"I was so sick," Murgatroyd recalled of that time.
News of the pregnancy leaked in late May when DWTS co-host Erin Andrews accidentally congratulated Murgatroyd and Chmerkovskiy on the set of the show when her microphone was still on.
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The mom-to-be ended up winning the latest edition of Dancing with the Stars with her celebrity partner Nyle DiMarco, who is also the reigning champion of America's Next Top Model.