It may be the people’s choice for the new royal baby’s moniker, but a source close to William and Kate says the pair are unlikely to name their daughter after Princess Diana.

• Princess Charlotte the ‘favourite’
• It’s unlikely the new royal baby will ever reign

The seed was planted when the late royal’s close friend and confidante Rosa Monckton took to Twitter to express her joy over the saturday birth.

“How Diana would have loved a granddaughter,” the disability activist wrote.

How Diana would have loved a grand daughter.

— Rosa Monckton (@MoncktonR) May 2, 2015

While various betting sites have Alice, Charlotte and Olivia as the leading name options, Diana is the sentimental favourite, as is Diana’s second name, Frances.

Diana Elizabeth seems like the only reasonable answer to the name game #RoyalBaby

— LeanneScott (@LeScott45) May 2, 2015

However, a friend of the family suggests people shouldn’t hold out for a tribute to the Princess of Wales.

“I think they’re more traditional than that,” the friend told People magazine.

“I would think they would go with a more royal name. I love the idea of Alice.”

The source revealed Kate and Will’s reluctance would have to do with not wanting to make too much of a statement, adding it will be interesting to “see how ‘political’ they are” in their choice.

“I wouldn’t read anything into that – just that they’ll go for a royal name,” the source explained, saying the choice of Diana would admittedly “cause a stir”.

The new princess was born on Saturday May 2 at 8.34am London time, weighing in at approximately 3.71kg.