See Blake Lively and Ryan Reynolds After Their Baby No. 3 Reveal

On Thursday, Blake Lively and Ryan Reynolds surprised everyone when they revealed that they are expecting their third child together, with Lively debuting a baby bump at the premiere of Reynolds' new film, Pokémon Detective Pikachu.

After revealing their pregnancy upon their arrival, the couple happily posed for photos together on the yellow carpet, beaming as they stood with their arms around each other.

For the premiere, Lively wore a bump-hugging yellow sequined dress with an empire waist and a thigh-high slit, accessorizing with plenty of jewelry and curled hair. Reynolds wore a khaki suit along with a denim vest and a white button-down.

The couple's pregnancy announcement came as a surprise to fans, as Lively has stayed out of the spotlight in recent months, likely keeping a low profile at the couple's home in Bedford, New York. She's also kept relatively quiet on social media, with her last Instagram post back in January when she shared a photo of herself wearing a black coat dress.

Lively and Reynolds married in 2012 and share two daughters, 4-year-old James and 2-year-old Inez.

Ahead of the premiere, Reynolds opened up to PEOPLE about how he and Lively put their family first, explaining that they have a rule that both of them won't work at the same time.

"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," he said. "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."

The actor also dished about his kids when he spoke to Extra earlier this month, joking that while he might be well-known, he's sure his daughters won't be too impressed.

"I just think they are going to literally separate their own eyeballs rolling them around me," he said. "When they decide to go away to college, I'm going to be that guy, 'That's so funny, I'm going to NYU, too!' I'm going to be so needy. I love being around them — it's the best thing in the world."

While that may be the case when they get older, James is currently pretty impressed with her dad's latest role, which sees him voice Pikachu in the movie.

"They know Deadpool is their dad, they haven't seen it so they're not fully invested in it, for some reason Pokémon is like catnip to children," Reynolds explained. "This is the first movie I have had that they are 100 percent invested in and psyched to see. I don't think they fully understood that that is me."

"My daughter James said I sound like him," he added. "She said, 'You sound like Detective Pikachu!' and I didn't really acknowledge it, was just like, 'Really? Tell me more about that.' I want to leave it as a surprise to them. We will all go see it opening day and then I will let them know it's me."

Photo Credit: Getty / Michael Stewart