Lively (and her bump) appeared at the 10th Annual Forbes Power Women's Summit on Thursday night, where she posed in a sequined long-sleeved mini dress that showed off her delightful news. Lively and Reynolds are already parents to three daughters: James, 7, Inez, 5, and Betty, 2.
Lively, who is one of five siblings, once said she's always wanted a larger family.
"I’ve always wanted a big family…Oh, I’d love 30 [children] if I could," she said before her wedding to Reynolds.
Last year, Reynolds opened up about his feelings on fatherhood, and how being a dad was a major factor in his decision to take a break from acting for a while.
"The biggest thing for me, and I know you have kids as well, is that I don't want to miss this time with my kids," he said at the time. "I want my kids to have a pretty normal schedule. For many years when my wife Blake would shoot a film, I would not shoot a film and I would be with the kids and vice versa. So we would sort of trade-off. We never really worked at the same time. But always we were away. So the kids were away too."
It sounds like whatever they've been doing for the last year or so has been working well for their family—every family deserves a work/life balance that is as sustainable and functional as possible.
"Now that they're in school, they have a somewhat normal schedule. I think it's totally important for their development and I really enjoy being a present dad," he continued.
Earlier this year, Reynolds joked about stay-at-home dad life in a way all parents can relate to (and it's OK, because it's funny).
"It's been hell, I'm going right back. I'm taking the first movie I can find," Reynolds joked. "No, it's been great. I'm still busy but I get to be there for my kids in the morning and at night I get to put everyone to bed, so I love that."
As for Lively, she feels it's important for her daughters to see her as a working mom.
"I want to be as present of a mother as humanly possible and I want them to feel my presence, but I also think the best way to be the best mother is to show them that you can have a life and have a passion and have an identity outside of just being a mother," she told PEOPLE last fall.
Congratulations to the gorgeous couple and their gorgeous family!