Blake Lively and Ryan Reynolds could have some exciting baby news...

Our favourite Hollywood couple might just have another baby on the way!

Yep, another mini Reynolds could be gracing us with their presence soon.

According to OK! magazine, the blonde beauty is allegedly pregnant with her and hubby Ryan's third child.

An insider supposedly confirmed the report to the media outlet, however, since the couple themselves have yet to comment, there's no telling exactly how true it actually is.

OK! claims the 30-year-old is "in the first trimester, so they’ve only told close friends and family."

"They had talked about having more kids, but didn’t have a plan – so this is surely a shocking but very welcome development!"

The power couple are already parents to daughter James, three, and daughter Inez, 19 months.

Exciting!