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Royal baby now has a name: Louis Arthur Charles

The newest member of the royal family has a name.

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The Duke and Duchess of Cambridge announced Friday that their third child has been named Louis Arthur Charles, CNN reported.

Prince Louis is fifth in line to the British throne, after grandfather Prince Charles, father Prince William and his older brother and sister.

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Louis was born Monday and weighed 8 pounds, 7 ounces. 

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"The Duke and Duchess of Cambridge are delighted to announce that they have named their son Louis Arthur Charles," Kensington Palace said in a statement. "The baby will be known as His Royal Highness Prince Louis of Cambridge.

Louis is Queen Elizabeth II's sixth great-grandchild.

Bookmakers tabbed Arthur as the favorite name for the prince, followed by James and Philip, the BBC reported.

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On Thursday evening, Prince William told the BBC that he and the Duchess of Cambridge were still deciding on a name, saying: "I'm working on that."

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