A royal source tells ET that "there was no special meaning behind the name, the couple just loved it."
"It was such a lovely moment with Her Majesty. Everyone was so touched," the source says. "It's been such a magical time and Meghan and Harry are so incredibly happy."
With regard to a royal title, Mountbatten-Windsor is given to the male descendants in line to the throne who have not been given one.
The source adds that "while there are courtesy titles that their Royal Highnesses the Duke and Duchess of Sussex could apply to their son, they have chosen not to give him one at this time." He will be simply known for now as Archie Harrison Mountbatten-Windsor. But when Prince Charles ascends to the throne, the child could automatically become His Royal Highness or Prince Archie under the current system. We'll have to wait and see, the source notes.
The proud parents could not contain their love and excitement when sharing their bundle of joy with the world during their small press conference at Windsor Castle.
"It's magic. It's pretty amazing. I have the two best guys in the world, so I'm really happy," Meghan gushed about being a new mom. "He has the sweetest temperament."
The littlest royal is seventh in line to the British throne, and Queen Elizabeth II's eighth great-grandchild. He is also the first multiracial royal baby but also the first of both American and British ancestry.