Blake Lively and Ryan Reynolds are said to be ''so happy and excited'' about having another baby.

The 31-year-old actress sparked speculation she is pregnant with the couple's third child on Thursday night (02.05.19) when she stepped out at the premiere of her husband's new movie 'Pokemon Detective Pikachu' in New York displaying a baby bump in a yellow dress.

And now, sources say the pair - who already have daughters James, four, and two-year-old Inez - are thrilled to be expanding their family once again.

The insider old People magazine: ''They are so happy and excited about having another baby. They really are the most in-love and in-tune couple, and very hands-on parents. They'd have a dozen kids if they could.''

Despite the speculation, Blake and Ryan are yet to confirm the news, but the 'Gossip Girl' star hasn't gone quiet on social media, having not posted anything on Instagram since January 11.

Ryan, 42, was spotted wrapping his arm around his wife's waist as they posed for photographs at the premiere.

Meanwhile, the 'Deadpool' star previously admitted he and his spouse don't don't shoot films at the same time for the sake of their kids, so there is always one parent at home caring for them.

He said: ''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.

''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.''