Sandra Bullock Divorce Underway; Adopting Baby Boy Louis Bardo [PEOPLE Magazine Interview]

Well — this is big news.

In this week’s new issue of PEOPLE Magazine — on newsstands everywhere Friday — Oscar-winning actress Sandra Bullock confirms her plans to divorce husband Jesse James in the wake of a headline-grabbing cheating scandal and introduces the world to the new love of her life – her adopted son Louis Bardo.

(She selected that name because she heard Louis Armstrong’s song “What A Wonderful World” playing in her head when she first saw him.)

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Sandra — who won an Oscar for her portrayal of an adoptive mom in the inspirational hit The Blind Side –reveals that she and her estranged husband adopted the baby boy in January and that, in the wake of allegations of James’ infidelity, she has filed for divorce and plans to raise the 3 1/2-month old child as a single mother.

Sandra and Jesse began the adoption process four years ago and brought Louis home at the beginning of th year but decided to keep the news to themselves until after the Oscars, where Sandra won the Best Actress gong for her performance in The Blind Side.

Their family, including Jesse’s children Sunny, 6, Jesse Jr., 12, and Chandler, 15 were instrumental in keeping the adoption news under wraps until now.