Sir Rod Stewart has received his knighthood. The 71-year-old singer was honoured with the title by Prince William during a ceremony at Buckingham Palace which was attended by his wife Penny Lancaster and his sons Alastair, 10, and five-year-old Aiden, and the star admitted he wished his mother and father could've been there. Speaking about meeting the Duke of Cambridge, Rod said: "We talked about music and he said, 'It's great that you're still going,' and I said, 'I have to - I've got eight children!' "He congratulated me on my long career - and I said how happy this made me. I just wish my mum and dad had been here to see it." Rod - who is now officially Sir Roderick - will meet Queen Elizabeth at a Royal Academy of Arts reception later today. He previously thanked the 90-year-old monarch for the recognition, describing the knighthood as "a monumental honour". Rod added: "I couldn't ask for anything more. I thank Her Majesty and promise to 'wear it well'." British/Nigerian actor David Oyelowo - who played Martin Luther King, Jr. in 2014 movie 'Selma' - was given an OBE for his services to drama at the Palace on Tuesday morning. The 40-year-old actor - who was given a Prince's Trust grant during the early years of his career - said: "To be honoured by the queen in this way having been aided by her son's charity feels like a beautiful full-circle moment." Penny previously revealed Rod was in shock and overcome with emotion when he found out he was going to be knighted. She said: "He never expected it because he thought, I've had my award, I've been granted a CBE and he was very flattered and honoured by that. But this was a shock. "He kept having to re-read the letter and literally collapsing on the sofa and going, 'I can't believe this, I can't believe this!' He was in tears about it, really emotional."