The 42-year-old actor and club owner became a father again when he and fiancee Christina McLarty welcomed son Charlie West three months ago, reported People magazine.
"I'm good at diaper duty. It's my second time around, so I have some experience under my belt, but it's 10 years later, so that changes things," he said.
Arquette said his daughter Coco has really embraced her role as a big sister.
"She's never jealous. She's just the best big sister ever. She can't stop kissing him enough!," she said.
Arquette's ex-wife Courteney Cox got engaged to Snow Patrol band member Johnny McDaid in Junea and asked if they would attend his nuptials, the actor said, "I doubt that."
"We're all very tight and very close and very supportive of everyone. You've got to give it a little (space)," he added.