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One of the greatest joys a new father has is sharing the baby he created with the man who raised him.

Simon Cowell will never get the chance to share his baby boy with his father Eric , who died in 1999, but the "X Factor" judge could possibly honor his father if he doesn't plan to honor himself first.

Cowell told Extra that when it comes to naming his son "My number one choice is Simon, cause I like the name."

Read: Simon Cowell is 'Proud to Be a Dad'

But if Cowell, 54, doesn't name his son after himself, his second choice is after his father.

"His birthday is going to be very close to my dad's birthday," he said. "So, I think second choice would be Eric."

Having a baby with Lauren Silverman wasn't something Cowell was planning on, but months after finding out, he's said publicly how proud he feels to be taking this next step in his life. He also thinks his father would share that pride.

"I think he'd be amazed," Cowell said of how his father would react to becoming a grandfather.

Related: Simon Cowell on Pregnancy Flap: 'People's Feelings Involved'

News broke in late July that the former "American Idol" bad boy was expecting and four months later, Cowell has a plan on how he will approach raising his son.

"Be cool about it," he said. "Don't worry about things too much. The way me and my brother were brought up, it was kind of relaxed. There was no self help books or any of that crazy stuff."

In fact, Cowell already has a game plan for retirement!

"I want to teach him how to do my job as quick as possible," he added. "I want to pass the reigns over. I really would like the idea of teaching him how to run the business."