"The baby was born at Breach Candy Hospital around 9.30 p.m. Both mother and baby are doing fine. God bless them," said Farah, who is one of Zayed's sisters apart from Sussanne Roshan, via SMS.
The couple, who has a three-year-old son named Zidaan, has named the newborn as Aariz.
"Yes, that's the name they have thought of Aariz Khan," added Ali.
Zayed's close friend, designer Manav Gangwani too couldn't contain his excitement and packed his bags for Mumbai as soon as he heard the news.
"(I) Came to Mumbai to celebrate the birth of my best friend, my brother Zayed & Malaika's second baby! To all my Tweeties....AARIZ arrives! God Bless! Jai Balaji...The most beautiful baby boy I have ever seen! Looks like a little Strawberry! God Bless Aariz Khan," Gangwani posted on Twitter.
Zayed's 'Love Breakups Zindagi', which has been produced under the banner of Born Free Entertainment, jointly owned by Dia Mirza and Sahil Sangha, will release Oct 7.
The 31-year-old is the son of veteran actor Sanjay Khan.