James does have an actress godmother, but she hasn't shared screen time with Lively.
It was too good to be true!
Blake Lively told an E! News correspondent on Saturday that her Sisterhood of the Traveling Pants costars are not, in fact, co-godmothers to baby James, as Amber Tamblyn said on VH1 earlier this week.
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"I never named them my godmothers," Lively said.
But that's not to say the ladies of the sisterhood aren't near and dear to her heart!
"They're my dear friends," she said at a press screening for her new flick, The Age of Adaline. "I would say my baby has a lot of fairy godmothers."
Sounds pretty magical to us! But in that case, who is James' actual godmother?
"My sister would be the one to take care of my baby" if something were to happen to her and husband Ryan Reynolds, Lively said.
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Her big sister Robyn Lively is no stranger to Hollywood life -- she starred on Doogie Howser M.D. back in the day.
Lively gave birth to a baby girl in January, but she and Reynolds kept the name under wraps for months. Check out how Reynolds announced it: