Royal baby: Gun salutes to mark the prince's arrival

There's a new royal baby

"Carole's lovely, and she just doesn't let anything faze her", an insider told PEOPLE. "Sleeping's going reasonably well so far, so he's behaving himself, which is good news", William said.

The prince's arrival on Monday was released by the palace around two hours after the Duchess of Cambridge had given birth.

Prince William stepped out for a royal engagement on Wednesday and gave the press an update on his new baby boy.

Even if he just can't wait to be King, the new prince is fifth in line to the throne, so it's highly unlikely he'll ever ascend.

As the couple stood outside the Lindo Wing of St. Mary's Hospital with their baby boy, Prince William and Catherine exchanged a few words to each other that the public couldn't hear.

Asked how the duchess and the baby were, the duke replied: "They're very well thanks".

Congratulations to William, Kate and the rest of the happy family!

The day commemorates the first major battle involving Australian and New Zealand forces during World War One. "The Duke of Cambridge was present for the birth".

On Monday, April 23, Prince William and Middleton welcomed their third child at 1101 hours.

Royal baby namings have not always been plain sailing.

According to British bookies, Albert and Arthur are tied as the most popular names, but James and Philip are also favorites.

The changes in the rules of succession make Princess Charlotte the first royal girl to welcome a baby brother and not lose her line in succession.

Princess Charlotte was christened Charlotte Elizabeth Diana - a nod to grandfather Prince Charles, the Queen, and late grandmother Diana.

Royal watchers were quick to point out the Prince George's middle name is Alexander, suggesting that it would be off-limits as it's already been used.

"On one hand there's a desire to inform the families before a public declaration is made and any new parent appreciates having a little private time to get to know their new addition before the onslaught of announcements", she said.