Is Blake Lively Lady Deadpool? Actress Sends Fans Into a Frenzy with “Deadpool & Wolverine” Set Photo in Red Outfit

The actress could be seen sporting the signature color of husband Ryan Reynolds' Deadpool in a photo she shared to Instagram on Monday, July 22

Blake Lively is a lady in red — but is she Lady Deadpool?

The It Ends with Us actress, 36, sent the internet into a tailspin on Monday, July 22, when she posted a photo from the set of husband Ryan Reynolds' highly anticipated Deadpool & Wolverine, which officially hits theaters this week.

In the professional snap, Lively kisses Reynolds, 47, who is in the full Deadpool costume and makeup while his wife wears a top and arm warmer in a similar shade.

Fans immediately took notice, with many pointing out that the actress's garb could be a clue that she might be playing Lady Deadpool in the movie after all.

"It's time! Lady Deadpool 🔥" one said, while another chimed in to ask, "Is this a confirmation that you are in it?💀."

Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human-interest stories.

Related: Who Is Lady Deadpool? Meet the New Character Teased in the Deadpool & Wolverine Trailer

While others didn't exactly speculate, they did express their excitement over the possibility — like one fan who joked, "If Blake isn't Lady Deadpool in the movie im starting a petition," while yet another wrote, "If u ain’t lady deadpool im suing at this point 😭😭😭."

As the anticipation for Deadpool & Wolverine builds, speculation has brewed about the appearance of the new character, who is a female variant of Deadpool hailing from an alternate universe.

Theories began with a teaser released in June. Thirty seconds in, the clip showcased a pair of legs in a suit strikingly similar to that of Deadpool’s, as the titular character, played by Reynolds, said in a voiceover, "I’m about to lose everything that I’ve ever cared about.”

In the final trailer, released ahead of the film's premiere, the mysterious figure was shown to have blonde hair and a red-and-black suit matching that of Deadpool's, intensifying rumors that it could be the Marvel Cinematic Universe’s debut of the character.

The possibility of Lively playing Lady Deadpool was a point of discussion after the leg reveal and, with the blonde hair unveiled in the final trailer, has only given fans more reason to suspect the Gossip Girl alum is stepping into the role.

Lively presented the kissing snapshot alongside a video in which she paid homage to Reynolds and his new movie for its inclusion of shout-outs for "millennial girls."

"Tell me Deadpool's married to a millennial girl in real life without telling me ... " the actress said in a video posted to her Instagram Stories and grid, following the clip of herself with a montage from the upcoming superhero comedy that proved her point.

Among the references in the new film are Avril Lavigne's song "I'm with You," nods to Harry Potter and Frozen, Céline Dion, *NSYNC, My Little Pony: Friendship Is Magic and more, per her post.

Lively joked in her grid-post caption that while she "should be competitive" at the box office with Reynolds due to her movie It Ends with Us coming out soon, she can't help but champion Deadpool & Wolverine for its commitment to the millennial-girl time period.

"It’s hard not to encourage my ladies to spot all the ways we’ve influenced @deadpoolmovie I’ve never been more proud. And I’ve given birth 4 times. 🤣❤️💛," she wrote.

Deadpool & Wolverine claws its way into theaters Friday, July 26.

For more People news, make sure to sign up for our newsletter!

Read the original article on People.