In a statement just in to ET, John McCain's Vice Presidential candidate, Sarah Palin and her husband, Todd Palin, confirm that their unwed 17-year-old daughter, Bristol, is pregnant. "Our beautiful daughter Bristol came to us with news that as parents we knew would make her grow up faster than we had ever planned.We're proud of Bristol's decision to have her baby and even prouder to become grandparents. As Bristol faces the responsibilities of adulthood, she knows she has our unconditional love and support." Bristol is reportedly five months pregnant. In the statement the Palin's do say Bristol plans to wed the father of the child. "Bristol and the young man she will marry are going to realize very quickly the difficulties of raising a child, which is why they will have the love and support of our entire family. We ask the media to respect our daughter and Levi's privacy as has always been the tradition of children of candidates." Bristol is one of the Palin's five children. Reuters is reporting that the Palin's issued this statement after rumors of her daughter's pregnancy circulated on the Internet.