It's been nine months since actress Blake Lively welcomed a daughter with husband Ryan Reynolds, and she's decided its time to honour the little one… in a very pricey way.

The Gossip Girl star, who has her own lifestyle and fashion site, has launched a diaper bag named after baby James. 

So far, so sweet. The catch? If you want to get your hands on "Blake's baby bag" bag, made by US company Sandast, you'll need to drop a cool $860 (€765).

The James Bag comes in a deep purple or a sapphire blue shade and is made from "premium" leather with an "imported zipper from Switzerland". It's only available for purchase from Blake's site, Preserve.com and is described as being "custom made."

The new mum has become more involved with the design process for Preserve pieces of late, even helping to design a number of dresses for the site. 

"I may not be able to draw worth a lick, but I am proud of this dress I co-designed with Amour Vert," she wrote back in June, sharing a picture of a white and pink Fifties-inspired outfit.

While baby James is definitely not old enough to appreciate having a bag worth hundreds of dollars named after her, we're sure she'll have many more items designed in her honour over the coming years. And hopefully they won't be quite as expensive as this first one…