Prince William and his wife Catherine, Duchess Of Cambridge have named their newborn son George Alexander Louis. The royals became first-time parents on Monday (22Jul13) and they debuted their child to the world's media on Tuesday (23Jul13), during a brief appearance outside London's St. Mary's Hospital, where he was born. The prince admitted to reporters he and his wife had yet to settle on a name for the little boy, but after spending a night with the baby at their Kensington Palace home, they have decided to name him after William's great, great, grandfather, King George VI - the father of British monarch Queen Elizabeth II. A statement released by palace representatives reads: "The Duke and Duchess of Cambridge are delighted to announce that they have named their son George Alexander Louis. The baby will be known as His Royal Highness Prince George of Cambridge." George had become the clear favourite on Tuesday as a flurry of bets were placed on the baby prince's name, ahead of other traditional monikers James, Alexander and Arthur. Little George Alexander Louis is now third in line to the throne, behind his dad William and grandfather, Prince Charles.