Blake Lively and Ryan Reynolds Expecting Baby No. 3

It'll be baby number three for Blake Lively and Ryan Reynolds!

The Simple Favor actress, 31, made a shocking statement on the red carpet of husband Ryan Reynolds' Pokémon: Detective Pikachu movie premiere in New York on Thursday, showing off an unmistakable baby bump in a tight yellow gown while posing for paparazzi.

This will be Lively and Reynolds' third child as the two are already parents to daughters, James, 4, and Inez, 2. While the two have kept their daughters mostly out of the spotlight, they has appeared publicly from time to time, including at Reynolds' Hollywood Walk of Fame star ceremony in 2016.

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(Photo: ANGELA WEISS / Contributor)

The couple is clearly dedicated to their family, with the Deadpool actor telling PEOPLE just before the big reveal that the two avoid working on projects at the same time so as to stay together.

“Blake and I don’t do movies at the same time. If she is doing a movie in Thailand and I am doing a movie in Vancouver we would just never see each other. We operate as a unit, and that works really well for us,” Reynolds told the publication. “The kids stay with us, and the family stays together, and that is where home is. So if we are in Spain or Utah or New York, as long as we are together, we’re home.”

Being part of Pokémon Detective Pikachu is also exciting for the expectant father, whose usual roles aren't exactly kid-friendly.

“To be a part of a film that my wife, Blake, is as excited about as my two daughters is unusual and super-exciting for me,” he continued. “It’s so cool to see my girls pumped.”

Living a jet-setting lifestyle as a family isn't all fun and games however, he joked.

“Usually when I’m on an airplane with my kids, at some point I get up and ask the flight attendants if I can leave the aircraft,” Reynolds said. “99 percent of the time they say, ‘No, please stay seated!’ So I just sit back down and long for the sweet release of death.”

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Congratulations to the happy couple!

Photo credit: ANGELA WEISS / Contributor