Just FYI, before I really get into this, let me just say that the origin of this story is… OK! Magazine. For me, OK! Mag is LESS reliable than The Sun or any of those crazy UK tabloids. OK! Mag is less reliable than Star Mag or The Enquirer. I really think OK! Mag’s editors are just phoning it in. Which makes it so weird that in the week that Duchess Kate gives birth, OK! Mag decided not to make her the cover story. Instead, they’ve got Blake Lively’s womb on the cover. And so now we have to discuss whether or not Blake Lively is pregnant. She and Ryan Reynolds got married last year, and I do think there were “expectations” that she would get knocked up right away, because that seemed to be the angle she used – Ryan wants a family, and Blake presented herself as a “traditional” wife who would put her career on hold to have babies. So, I understand the speculation. Here’s the story:

It is coming up on actors’ Blake Lively and Ryan Reynolds‘ first wedding anniversary — and the family could be expanding very soon! The family-oriented couple have expressed their desire to have lots of kids, and new details reveal that baby #1 is coming sooner rather than later!

Is a baby on the way for the gorgeous couple? Blake and Ryan have each expressed interest in having a large family — tons of kids to pass off those jaw-dropping looks to! A new report reveals that not only are they ready kids at this point in their relationship, but Blake is already pregnant with her first baby!

Blake, 25, has been hiding her body at recent public appearances, wearing long, drapey sweaters despite the sweltering heat. “She was rocking a little paunch — maybe the tiniest of baby bumps,” an onlooker at the July 9 New York City premiere for 36-year-old Ryan’s new movie Turbo, describes to OK magazine.

“It’s pretty obvious Blake is expecting a baby. We’re convinced she’s just waiting to pass the first trimester before she makes an official announcement,” an insider tells OK magazine. “Blake’s usually a size 2 or 4 and loves to show off her body in fitted clothes, but now she is going for looser, more draped fits.”

Blake has also reportedly put a stop on absolutely all drinking. “She enjoys a little champagne and red wine, but for the last couple weeks, it’s only been water,” the magazine’s insider explains.

We have reached out to Blake and Ryan’s reps and are awaiting comment.

Blake has previously revealed that she wants to have a huge family. “I’ve always wanted a big family. I’d love 30 [children] if I could,” she told Allure magazine in September.

[From Hollywood Life]

If it happens, it happens. I wouldn’t be surprised if she was knocked up right now, and I wouldn’t be surprised if they denied this and waited even longer to have kids. As for whether the speculation is fair… eh. I think it’s fair game if the speculation is merely in passing, especially since both Ryan and Blake have talked about wanting a family in recent interviews. So, if it’s on, congrats to Blake and Ryan.

Oh… after I had written all that up, Blake’s rep denied it to Us Weekly, saying: “The story is 100% false. Blake is not pregnant.”

Here are some of the most recent photos we have of Blake, from July 9th. I don’t see a baby bump or anything and her boobs don’t look bigger, for what it’s worth.

Photos courtesy of Fame/Flynet and WENN.