This Is the New Royal Baby's Name

After months of speculation (and even betting), the third royal baby officially has a name.

Prince William and Kate Middleton named their newborn son — yes, in case you missed it, it's a boy — Louis Arthur Charles.

Little Louis was born at 11:01 a.m. on Monday, April 23, at St. Mary's Hospital in London, Kensington Palace announced on Twitter. He weighed 8 lbs. and 7 oz.

Related: Kate Middleton and Prince William Just Stepped Out With the Royal Baby — See the Photos

Arthur, Albert, and James were bookies' top bets for boy names, although the odds were also set on the baby being a girl. The baby's full royal title is His Royal Highness Prince Louis of the United Kingdom of Great Britain and Northern Ireland, royal historian Marlene Koenig told Town & Country, but Kensington Palace announced he'll go by His Royal Highness Prince Louis of Cambridge. You know, short and sweet.

Louis means “renowned warrior” in French, and People reported it is likely a way to honor Prince Philip, whose grandfather was Prince Louis Alexander of Battenberg. Prince William and Prince George both have Louis as part of their full names (William Arthur Philip Louis and George Alexander Louis), and the middle name Arthur is also a family tradition.

Baby Louis joins brother Prince George, 4, and sister Princess Charlotte, who will turn 3 on May 2. The baby boy's birth means Princess Charlotte just made history: Due to the Succession to the Crown Act, passed in 2013, she is the first female British royal to take precedence in line for the throne over her younger brother.

Of course, great-grandmother Queen Elizabeth II, grandfather Prince Charles and the rest of the family were "delighted" to hear the news.

Kate's sister, Pippa Middleton, is also reportedly expecting her first child with husband James Matthews. Reports say Pippa, 34, had her 12-week scan before revealing the news to family and friends, which would put her due date in October. That gives Louis about five months to enjoy being the baby of the family. Live it up, little guy.