Jay-Z and Beyonce
Beyonce and Jay-Z welcome their first child, a daughter named Blue Ivy on Jan. 7. Reuters

It's a girl for first-time parents singer Beyonce and rapper Jay-Z and the little bundle of joy's name is Blue Ivy Carter. She was born at New York's Lenox Hill hospital on Jan. 7.

The baby girl's name was first reported as Ivy Blue, but things were cleared up when actress Gwyneth Paltrow, a close friend of the hip hop power couple, tweeted the news and set the record straight for a confused fan.

Welcome to the world, Blue, Paltrow tweeted Sunday. We love you already.

When a fan asked if Beyonce baby's name was Ivy Blue or Blue Ivy Paltrow tweeted It's Blue Ivy Carter!

And it seems the baby's name has much meaning to the proud parents.

Blue is reportedly the favorite color for rapper Jay-Z, who has had much success with The Blueprint trilogy. The Blueprint album is regarded by many as Jay-Z's greatest album yet. Released in September 2001, the album has blue tint art and was followed up with others such as The Blueprint 2 in 2002 and The Blueprint 3 in 2009.

Rapfix.mtv.com reported that the line My favorite hue is Jazy-Z blue taken from the Go Crazy rap song from Young Jeezy featuring Jay-Z, may have seemed insignificant in 2005, but when Jay rhymed ... on Young Jeezy's Go Crazy it wasn't just rapper rhetoric. Hov (another name for Jay-Z), who is equally adapt in the booth and the boardroom, worked with marketing expert Steve Stoute to brand his own color. (See video below.)

Rapfix also reported that there was a plan to get Jay-Z a branded Jay-Z Blue GM Jeep and that Stoute told Complex magazine that Jay-Z Blue is still in the works.

As for the number the name Ivy, it is being reported the IV is symbolic of the Roman numeral for the number four, which has great meaning for Beyonce. Beyonce's most recent album is called 4. She married husband Jay-Z on April 4, 2008 and her mother's birthday is said to be on the fourth.

Globalgrind.com reported that Beyonce told Billboard Magazine, We all have special numbers in our lives, and 4 is that for me. It's the day I was born. My mother's birthday, and a lot of my friends' birthdays, are on the fourth; April 4 is my wedding date.

You can listen to Go Crazy below:

Beyonce