Is a Malamute what you really want ?

Teddy and Willow playing at sliding snowbanks with some kids
Malamutes are very good companions for kids

Malamutes love kids and playing with them.
You will be struck by the way they control their force with small kids.
Anyway no small kid should ever be left alone with such a big dog. The kid may accidentally (or deliberately) hurt the dog causing a bad reaction. It's also wise to be careful with newborns as their crying can wake up predatory istincts, and the fact that a little baby doesn't smell, look, or sound like a man doesn't help much either.
Don't forget your dog all at once because of the baby. He may become jealous and you may have to face a problem in the future.
The basic idea is to behave so that the dog associates the baby to positive feelings, (something tasty, walk, run, play, caress etc.)
If you don't have kids in your home try to get your mal acquainted with kids since puppyhood, and don't be afraid to let him play with them (under surveillance), even with kids he's never seen before. You will enjoy what you'll see.
Of course this is true about most malamutes, and a dog bred by a reputable breeder will usually have a nice disposition toward both kids and grown-ups. A good education is at least as much important anyway. Yet it is always possible (just like in any other breed) to happen in a dog with a bad temperament.