The couple - who have Alistair, 14, and Aiden, eight, together - like to get into the Christmas spirit early and invited all their loved ones to their home for "merriness". Buy tickets below.
Penny said: "Christmas kicks off with our drinks party at home for close friends and family, with an array of entertainment, nibbles and merriness."
But the couple definitely won't be having a white Christmas this year because they are off to Florida to celebrate with some of Rod's older children from his past relationships.
Penny told Britain's HELLO! Magazine: "After Rod's O2 shows, we are off to Florida to spend Christmas with three of the older kids of the Stewart clan."
The 74-year-old singer will be happy to be in Florida as he recently admitted he struggles with the cold English weather now after spending so much time in California.
He said: "I really feel the cold now. I go to bed with an electric blanket. Socks, the lot."
Rod, a football fanatic, recently revealed that he will have a knee replacement in the new year after playing the game for years.
He explained: "It's from football over the years but I will be okay. I will be fine."
The 'Baby Jane' singer often plays football on stage during his shows but recently revealed that his right knee had "packed up" as a result.
Rod also admitted that he feels "happier now than I've ever been", even though he is noticing his age.
He said: "I am comfortable in my own shell now. In the early days we all drank too much. I don't drink so much now."
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