Ryan Reynolds on How He and Blake Lively Are Feeling Ahead of Baby No. 4: 'It's Gonna Be Nuts' (Exclusive)

The 'Spirited' star opened up to ET before getting honored at then 36th Annual American Cinematheque Award Ceremony on Thursday night.

Ryan Reynolds has a lot to celebrate. The charming star is opening up about his growing family, and being honored by his peers and mentors for his storied career.

The Spirited star walked the red carpet at the 36th Annual American Cinematheque Award Ceremony at the Beverly Hilton in Beverly Hills on Thursday, where he was honored with the prestigious American Cinematheque Award. His wife, Blake Lively, spoke at the star-studded event and he opened up to ET's Cassie DiLaura about gearing up to welcome their fourth child together.

"We're very excited," Reynolds shared. "You'd have to be a moron to do this four times if you didn't like it."

Lively revealed that she's pregnant with the couple's fourth child back in September, when she stepped out for the 10th Annual Forbes Power Women's Summit in New York City and debuted her burgeoning baby bump.

Lively and Reynolds -- who tied the knot in 2012 -- are already parents to three daughters -- James, 7, Inez, 6, and Betty, 3.

"Yeah, it's gonna be nuts! But we're very excited," Reynolds said of having four kids.

As for how his daughters feel about welcoming a new sibling, the proud dad shared, "Oh yeah, they're in. They love it."

Reynolds made sure to keep his kids close to his heart while attending Thursday's event. The actor looked incredibly stylish as a rocked a velvet suit, which he accessorized with a homemade bracelet from his girls that read "DAD."

Emma McIntyre/Getty Images

As for being honored at the American Cinematheque Award Ceremony on Thursday, Reynolds admitted that he isn't used to getting praise "in a concentrated dose like this."

"This is pretty intense," he shared. "This is a room filled with a lifetime of peers and collaborators and people that I adore, and some of which I consider family, so it's -- this is amazing. This is a 'pinch me' moment, for sure."