Welcome, Lilibet Diana.

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Meghan Markle and Prince Harry just announced the arrival of their second child — a baby girl named Lilibet Diana. And as it turns out, her moniker is not only super cute, but also holds a special significance for Harry.

Named after two very important women in the duke's life, Lilibet ("Lili for short) is a sweet tribute to his grandmother Queen Elizabeth. It was the Queen's childhood nickname, and her late husband, Prince Philip, was believed to be the last person to her call her by that name. Therefore, in her final farewell at his funeral, she placed a handwritten note on his coffin, signing it as "Lilibet."

Meanwhile, the baby's middle name is an obvious nod to Harry's mom Princess Diana, who passed away in a car crash in 1997.

According to a statement, Lilibet Diana Mountbatten-Windsor was born on Friday (June 4) at Santa Barbara Cottage Hospital in Santa Barbara, Calif. "Both mother and child are healthy and well, and settling in at home," the announcement revealed, adding: "The Duke and Duchess thank you for your warm wishes and prayers as they enjoy this special time as a family."

In a personal message on their Archwell website, the Sussexes wrote, "On June 4th, we were blessed with the arrival of our daughter, Lili. She is more than we could have ever imagined, and we remain grateful for the love and prayers we've felt from across the globe. Thank you for your continued kindness and support during this very special time for our family."

Meghan and Harry are also parents to 2-year-old Archie, who is now officially a big brother.