After much speculation, Elton John and his partner David Furnish have confirmed to Barbra Walters, in an interview airing tonight on '20/20,' that Lady Gaga is the godmother of their four-month-old son, Zachary.

"Yes, yes she is," John said when asked if Gaga was one of Zachary's godparents. "When you get to the real person under there, there's a real simple person under there who loves her parents."

Furnish told Walters, according to MTV, "Zachary's going to inherit an incredible musical legacy from his father one day, and she will be a good person to guide him through the ins and outs of the music business, 'cause she sure knows everything about the business now."