Ryan Reynolds Teams $2,745 Suit with a Flower Pin that Holds a Special Meaning at SNL50 Event

For his night out, Ryan Reynolds opted to go for a classic look with a personal twist. 

The Deadpool star attended the SNL50: The Anniversary Special in New York City alongside his wife, Blake Lively, on Sunday, Feb. 16. 

For the star-studded event, Reynolds, 48, rocked a Thom Sweeney midnight navy shawl lapel dinner suit that retails for $2,745, a white Cotton Poplin Point Collar shirt that retails for $440, a black silk bow tie that retails for $200 and Calf Leather Oxford Shoes in black, which retail for $650. All told, Reynolds’ look cost just over $4,000. 

In addition to his designer duds, the Canadian actor added a meaningful accessory to the ensemble. 

On his lapel was a small white and red pin, which represents Reynolds’ Order of Canada honor, which he received in December 2024. The red center is a Canadian maple leaf. The lapel badge comes in different colors signifying different levels.

When Reynolds received the honor back in December, he shared how moved he was by the accolade. 

“Today I received the incredible honour of appointment to the Order of Canada. I couldn’t be more emotional and proud of this moment,” Reynolds said in a statement exclusively obtained by PEOPLE at the time. 

“I’m so grateful to be a part of the ever-evolving Canadian story. Even more grateful to my third parent: the communities across the country who have supported and shaped me. As well as all the people across Canada who do the work of helping people each and every day without recognition or pats on the back. I’m asking the Governor General if I can break my officer’s medal into thousands of little pieces to share,” he continued.

At the SNL50, Reynolds and Lively, 37, walked the carpet together with Lively sporting a sparkling silver Tamara Ralph fall/winter 2024 couture dress with a fitted bustier-like bodice and floral detailing. She accessorized the look with Lorraine Schwartz jewelry.

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The public outing came amid Lively’s ongoing legal battle with her It Ends with Us director and costar Justin Baldoni. Reynolds seemingly referenced the headline-making legal battle with a joke from the celeb-filled audience during the special. 

When Reynolds stood up to ask a question, Tina Fey asked him, “How’s it going?” The actor quickly responded, “Great, why? What have you heard?” as the audience laughed.

A source previously told PEOPLE that the A-list couple enjoyed their night out. 

“They had a great time,” a source tells PEOPLE. “It was nice getting out of the house and being around friends and familiar faces.”

The source adds that Lively was “nervous” to return to the spotlight but still “excited to be out with friends and support Saturday Night Live” for its milestone anniversary.