The actors have welcomed their second child, a source confirms to PEOPLE.
Lively gave birth in New York. No further details — including the baby’s sex and name — are known. Reps for the couple could not be reached for comment.
The new addition joins big sister James, 22 months.
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A source close to Lively, 29, confirmed to PEOPLE in April that she and Reynolds, 39, were expecting baby number two.
The Gossip Girl alum made her baby bump debut at the 2016 Cannes Film Festival in May, when she stepped out for the premiere of her film Café Society — whose New York City premiere she also attended in July, outfitting her growing bump in a beautiful gray and pink dress.
In fact, Lively was quite the maternity style maven to watch throughout her second pregnancy, from her numerous fit-for-royalty gowns at Cannes to the premieres for her summer films, including her survival thriller The Shallows.
Both Reynolds and Lively come from big families and have shared their hopes for a big family of their own.
The actress also told Marie Claire earlier that month that she wants to give her kids a “nice, normal upbringing.”
“We don’t ever want to rob them of what we had because then we’d feel really selfish,” she said, adding that, “All my eggs are in one basket, and that’s my family.”
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Deadpool star Reynolds is no doubt excited to be a second-time dad.
“I don’t have to prepare to be wrapped around my daughter‘s finger,” the former Sexiest Man Alive told PEOPLE of James for a February cover story. “I have been wrapped around her little finger since the day she plopped out into this world.”
And regardless of whether the couple’s second child had been a boy or a girl, the new dad of two — who has three older brothers — would have been equally overjoyed.
“I would love to have a little boy at some point, but I would not be an unhappy man if I had a six-person soccer team of girls,” he joked to PEOPLE and Entertainment Weekly Editorial Director Jess Cagle in April.
— Jen Juneau