And the baby's name is ... George

LONDON. July 25. KAZINFORM Drum roll ... George Alexander Louis!

The Duke and Duchess of Cambridge announced Wednesday that they've named their new bundle of joy.

The tot "will be known as His Royal Highness Prince George of Cambridge," according to Clarence House , the official residence of heirs to the throne.

Earlier Wednesday, word came that the couple are doing what new parents do: They are enjoying some incredibly sweet moments alone with their baby.

The official statement said William and Catherine are now down to the business of getting "to know their son."

The parents and the perhaps future king left Kensington Palace in London by car around lunchtime, UK media reported. The couple has been mum about their immediate schedules.

British media were feverishly reporting where they might be, with the consensus being that the couple and child went to the village of Bucklebury, where Catherine's parents live.

Earlier Wednesday, Queen Elizabeth II went to Kensington Palace to see the newborn for the first time. Uncle Harry paid a visit, too, the palace told reporters.

The public got its first look at the child Tuesday evening, outside the Lindo Wing of St. Mary's Hospital in London.

The prince and his wife said then that they had been "working on a name."

"So we'll have that as soon as we can...," William said. "It's the first time we've seen him really, so we're having a proper chance to catch up."

Many bets were placed as the public waited for the announcement. British bookmakers Ladbrokes had George and James as favorites Wednesday, followed by Alexander, Arthur, Louis and Henry.

William's name was announced a few days after birth; his brother Harry's upon leaving the hospital.

The baby has a "good pair of lungs," the prince told well-wishers Tuesday evening. "He's got her looks, thankfully."

They took turns holding little George, wrapped in a cream-colored blanket. The parents waved.

William said he'd already changed his first diaper.

"It's very emotional. It's such a special time," Catherine said.

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