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Prince William, Duchess Catherine Kate Middleton, Princess Diana

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With the next royal baby arriving any day now, speculation over what Kate Middleton and Prince William's second child will be named is in full swing!

E! News caught up with CNN Royal Commentator Victoria Arbiter about what moniker she suspects Queen Elizabeth II's next great-grandchild will be given, and if there's any truth to the rumors that the duke and duchess may pay tribute to Princess Diana.

First of all, Arbiter tells us that the wee one "doesn't have to be named after a royal," but that William most likely wouldn't choose his late mother's name for his second child—if, in fact, Kate gave birth to a girl.

"William wouldn't [name his child Diana] for several reasons," Arbiter explains. "First, he honors his mother in a number of very private ways that are personal to him but not grandstanding. Second of all, out of respect to the royal family, all the media attention that it would bring.

"And third, the name Diana has both positive and negative connotations for different people for different reasons. To put that on a baby's shoulders and have to grow up with that mantle he just wouldn't do it."

So what if Prince George's parents happen to welcome another baby boy? Well, Arbiter has one fancy-shmancy moniker in mind for their second child.

"If I were a betting person, I think Arthur is probably near the top in terms of boys names. I know it seems quite old fashioned but it has had a resurgence in England," she shared.

"You've really seen the old-fashioned names come back. There is a sense that he could go to school and not be teased while at the same time have a traditional name."

Catch new episodes of E!'s scripted series The Royals on Sundays! Follow The Royals on Twitter and Facebook for the latest updates!