| Congratulations!  I agree with many of the posters above.  I agree that you should wait until she is at least 3 months pregnant before telling anyone.  My wife and I didn't consider ourselves "with child" until we were through the first trimester.  I also agree that there is not a "best way" to tell one's parents.  My wife and I sent our parents "Congratulations on becoming grandparents!" cards.  We didn't tell them anything else.  They were very shocked and confused (in a good way).  I wouldn't recommend that communication strategy in your case.  
 Finally, if you haven't already, both of you should get in to see a obgyn as soon as possible.  Again, congratulations!
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