The former FACES star, 60, announced his engagement to the pretty photographer, 34, earlier this month (MAR05) after dating for five years.
Stewart has two children KIMBERLY and SEAN with his first wife ALANA STEWART, a daughter RUBY from his relationship with KELLY EMBERG, and two offspring RENEE and LIAM from his estranged wife Rachel Hunter.
Lancaster enthuses, "I've always wanted a baby. What will be, will be, only time can tell."
Stewart adds, "We've thought about it, but I'll have to see how much I've saved up.
"The last six months have been have been the best time in my life. My album charting at number one, my birthday with my family and my first Grammy.
"I could not be in a happier place than I am now."28/03/2005 13:42