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Royalty just graced the red carpet at the 2017 Golden Globes

Lily Collins, who is nominated in the Best Actress in a Motion Picture, Musical or Comedy category for Rules Don't Apply, arrived to what is sure to be an unforgettable evening in quite a show-stopping look by Zuhair Murad couture.

Her elegant, light pink gown and sophisticated top knot instantly sparked comparisons to a princess, and given that she actually starred as one in 2012's Mirror Mirror, it totally makes sense. Top off the entire ensemble with a plethora of Harry Winston baubles and a swipe of bold red lipstick and Lily's princess magic is made.

Before heading into the Beverly Hilton, the 27-year-old explained to Giuliana Rancicwhy the Globes is so special to her. 

"This is surreal. We're actually doing this right now. I've been watching this since I was little, all these red carpets and I've been watching you so this is an honor to be here," she shared. 

As for her outfit of choice, Lily revealed that actually choosing the dress might have been the most simple aspect of her award show preparation. 

"I walked in the door and bee lined straight for this one," she told us, "Tried it on, tried on seven or eight more, and went, 'Nope. First choice.' I just knew it. I loved this color. It's fun. It's fresh. It's great."

And whether or not Lily goes home with a Golden Globe of her own, she's already experienced quite a life-affirming moment (and the show hasn't even started!). "I brought my mom as my date and I'm just really excited honestly. First of all, Meryl Streep knows my name now so that for me is enough. Mic drop," she joked. 

Mic drop, indeed. Good luck Lily!

Watch E!'s live 2017 Golden Globes red carpet coverage starting at 4 p.m. ET/1 p.m. PT today. Following the ceremony on NBC, tune back in to E! for our live After-Party special at 11 p.m. And catch our Fashion Police special Monday, Jan. 9, at 8 p.m.