With a plunging peekaboo neckline, no less.
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Blake Lively Gem Awards Cutout LBD

The cutout trend isn't going anywhere anytime soon, and neither is the racy version of the little black dress. At least, if Blake Lively and her latest look have anything to say about it.

On Friday evening, the actress mastered the midriff reveal in an ultra-sexy LBD while stepping out solo for the Gem Awards at Cipriani in Manhattan. The ab-baring moment came courtesy of her dress's plunging neckline that stretched below her chest and was met with a tiny gold charm, before flowing into a massive cutout below. The bottom half of Lively's LBD featured a high-waisted pencil skirt silhouette, which was amplified by a pair of Christian Louboutin stilettos covered in tiny black and silver crystals.

She carried a gold Chanel clutch with a black diamond weave pattern and accessorized with jeweled drop earrings and stacked rings on multiple fingers.

Earlier this week, Lively's spellbinding fashion finally got the recognition it deserved, after she and her husband Ryan Reynolds were named co-chairs of this year's Met Gala. The annual event will celebrate the Costume Institute's exhibition on American fashion, titled In America: An Anthology of Fashion — a continuation of last year's In America: A Lexicon of Fashion. In addition to Blake and Ryan, Regina King and Lin-Manuel Miranda were also named official co-chairs of the evening.