Baby Bieber might not have entered the world just yet, but they already have a precious name picked out by their parents! On Thursday, May 9, Justin Bieber, 30, and his wife, Hailey, 27, announced they were expecting their first child together, with a source later confirming the A-list couple knows what they’ll be calling the little one. “They have a name that they think is perfect,” an insider revealed to a news publication of Hailey and Justin, noting: “They’re also starting to decorate a nursery. They can’t wait to meet the baby.” “Everyone is excited for them,” the confidante gushed. “They…