Prince Charles has waited all of his life for the Throne, but unfortunately he's going to have to wait even longer now. A new report suggests that Queen Elizabeth might be bypassing her son and his wife Camilla Parker Bowles by handing the throne to Prince William and Kate Middleton, who seem to be much more popular and in tune with the British public.

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According to OK! Magazine on Wednesday, the 89-year-old ruling monarch is looking to hand over her crown to her grandson Prince William, simply because she thinks the monarchy would benefit more by having them in charge.

A source told the site that Wills and Kate are "so incredibly excited" and that "they always knew this day might come. They just never expected it so soon."

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What's more, Queen Elizabeth supposedly told them the big news during an announcement on Christmas Day. And while the Duke and Duchess of Cambridge were happily celebrating, Prince Charles and his wife Camilla were left rather disappointed knowing that they are being bypassed for the much younger royals.

"It took a minute to sink in," the source said. "Kate hugged and kissed William, and it was a completely overwhelming moment for them. When Kate told George, 'Mummy is going to be Queen,' he went off to draw a family portrait and castle!"

And as far as why Queen Elizabeth is breaking tradition and handing off her crown while she is alive, it's simply because she wants to enjoy her golden years in retirement.

"She wants to spend every possible moment with the man who's been by her side for 70 years," the insider said. "She'd hate for something to happen to him while she's away on official business."

So far, Buckingham Palace has not made any comments about the report.