Harry is also reportedly considering naming his daughter after his late mother Princess Diana

According to the bookies, Dianna is currently the favourite baby name with 4-1 odds.

While the source said the names Lily and Pip “aren’t exactly traditional royal names”, Meghan and Harry have not taken the traditional route as a royal couple.

Harry and Meghan revealed they were pregnant in February by sharing a stunning black and white photo taken by their friend, photographer Misan Harriman.