Salma Hayek and French fiance, Gucci Group CEO Francois-Henri Pinault, arrive at his private dinner on Friday at the famed architectural complex Fondazione Cini in Venice, Italy.

The couple celebrated the 52nd Annual Biennale (major contemporary art exhibition that takes place once every two years during odd years) with friends, including actress pal Mia Maestro (pictured below) and supermodel Naomi Campbell.

Salma, 40, and Francois-Henri, 44, are expecting their little one in the next few months.

Salma Hayek and fiance Francois-Henri Pinault step out for dinner together on Saturday at Valentino’s in Santa Monica, Calif.

Says Us Weekly’s source, “Salma and Francios haven’t even been dating a year. They were friends for awhile. The truth is that Salma is 40 years old and really wanted a baby. She’s gotten to the point where she really wanted a baby. Francios treats her amazingly and she knew he would be a good father. Most of her friends barely know him! They’re just really happy for her because this is what she’s wanted. She’s spent years with the wrong guys, but she finally found someone that treats her really well.”

Salma announced her pregnancy and engagement to Francois last week.

Casino Royale star Daniel Craig (left) in 10 years = Salma Hayek’s fiance Francois-Henri Pinault (right)

Yes, that Salma Hayek is pregnant AND engaged!

As first reported by The New York Daily News’s Gatecrash columnist Ben Widdicome via PerezHilton.com, Latina bombshell Salma, 40, and French billionaire buisnessman Francois-Henri Pinault, 44, are expecting their very first child together later this year.

Says Salma’s publicist, Ina Treciokas of ID Public Relations: “Businessman, Francois-Henri Pinault, and his fiancee, Salma Hayek, are happy to announce they are expecting the arrival of their first child.”

Since the day he was born, Francois-Henri had money growing out of his ears. His father, tycoon Francois Pinault (second picture below), is the founder of retail company PPR and ranked no. 74 among the world’s richest people in 2006.

Currently, Francois-Henri is the CEO of PPR, which basically runs the luxury-goods market. PPR owns big brands Gucci, Yves Saint Laurent, Bottega Veneta, Alexander McQueen, Stella McCartney, and Balenciaga.

Salma was last spotted leaving King Road Cafe in Hollywood on Sunday, March 4 (above). Francois-Henri was last seen in Paris, announcing the 2006 financial results for PPR yesterday, March 8 (third and fourth pictures below).

Congratulations to newly engaged couple! Let the baby bump watch officially begin!

First and second pictures below: Francois-Henri Pinault, Salma Hayek and papa Francois Pinault at the opening of an art show entitled “Where are We Going?” at the made-over Palazzo Grassi palace in Venice, Italy on April 29, 2006.