"The story is 100 percent false," Lively's rep confirmed. "Blake is not pregnant."
The tabloid claimed Lively was sporting a baby bump at the New York premiere of Reynold's new movie, "Turbo" and that the 25-year-old actress had stopped drinking alcohol.
But a source close to Lively said she's never been much of a drinker.
Still, the couple, who married in a secret ceremony in September, want to someday have a "big family."
"We both come from big families -- my parents did four, Blake's did five," the "R.I.P.D." star said. "A lot of people say it's crazy, but we'll only know when we're there, you know? We'll walk through that fire pretty happily, I think."
And though the couple is notoriously private -- they hadn't even announced their engagement when they tied the knot last year -- Reynolds did admit he's hoping for a baby girl someday.
"I'm terrified that I'm genetically predisposed to only having boys. That's frightening," he said. "By the time I was 10 years old, and I'm not exaggerating, I knew how to patch drywall. There's nothing my brothers and I didn't put a hole in. We turned our home into a Wiffle house. That's something I'm not looking forward to."