Alaska Gov. Sarah Palin and her husband Todd released a statement this morning announcing that their 17-year-old daughter, Bristol, is expecting a child.

We have been blessed with five wonderful children who we love with all our heart and mean everything to us. Our beautiful daughter Bristol came to us with news that as parents we knew would make her grow up faster than we had ever planned. We’re proud of Bristol’s decision to have her baby and even prouder to become grandparents. As Bristol faces the responsibilities of adulthood, she knows she has our unconditional love and support.

The statement also indicates that Bristol will marry the baby’s father and requests the media respect the young couple’s privacy.

According to Steve Holland of the UK Independent, senior officials within the McCain campaign confirmed they knew of the girl’s pregnancy at the time Palin was selected. The officials indicated that the statement was released in hopes of curtailing “rumors” regarding the couple’s youngest child, Trig, and the oldest daughter’s possible involvement.