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    How Big Is It? The Truth Behind Blake Lively's Wedding Ring

    Blake Lively, Ryan Reynolds Alex Gutierrez

    Reports about the size and price of Blake Lively's wedding ring have been greatly exaggerated.

    Sure, it's still a stunner, but a source tells me it is not 12 karats.

    "It's more like seven karats," the source said.

    Blake Lively flashes her wedding ring

    As for how much Ryan Reynolds paid for it, forget that $2 million price tag.

    It wasn't exactly inexpensive, but the source says, "It doesn't cost nearly that."

    As previously reported, the bauble was designed by celeb jeweler Lorraine Schwartz. "It's a personal and special ring designed by a friend," the source said referring to Schwartz. "But it's not over the top or in that price range."

    Check out more celeb bling!

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