Taylor Swift's Song 'Betty' Confirms the Name of Blake Lively and Ryan Reynolds' Third Daughter

With the release of Taylor Swift's "Betty," fans suspected that the singer may have dropped news of the name of close friends Blake Lively and Ryan Reynolds' newest daughter into the lyrics — and they would be correct.

A source with knowledge of the situation tells PEOPLE that the song was named in part for Lively and Reynolds' third daughter, born Oct. 4. Reps for the couple did not return a request for comment.

Last fall, the actor announced that he and Lively had welcomed their third daughter together, but stayed mum on her name. Sleuthing Swifties were quick to note that the track featured three names in the song — Betty, Inez and James — the latter two being the names of Reynolds and Lively's 3½ and 5-year-old daughters and leading fans to wonder if the 9-month-old's moniker had been revealed.

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"Betty, I know where it all went wrong," Swift sings. Later lines include "You heard the rumors from Inez / You can't believe a word she says" and "She said, 'James, get in, let's drive."

Kevin Mazur/Getty Image; Dave Allocca/Starpix/Shutterstock Taylor Swift; Blake Lively and Ryan Reynolds

Early Friday, Swift debuted a brand-new album, which she announced only hours before on Thursday morning. Titled Folklore, Swift's eighth studio album is the superstar's follow-up to August 2019's Lover.

The songstress' album features a total of 16 tracks, with song titles like "Illicit Affairs," "Mad Woman," "The Last Great American Dynasty" and "The 1."

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Republic Records Taylor Swift's Folklore

The star also released a video for her first single "Cardigan" as well as lyric videos for all her new songs.

The rest of the tracklist is filled out with: "Exile," "Betty," "My Tears Ricochet," "Mirrorball," "Seven," "August," "This Is Me Trying," "Invisible String," "Epiphany," "Peace" and "Hoax." Deluxe copies of Folklore also come with the bonus track "The Lakes."

Republic Records Taylor Swift's Folklore

Revealing the "surprise" project on Thursday, Swift noted that a lot didn't go according to plan this year — and this album wasn't even an inkling in her wildest dreams.

"Most of the things I had planned this summer didn’t end up happening, but there is something I hadn’t planned on that DID happen. And that thing is my eighth studio album, folklore," she wrote. "Surprise 🤗"