Blake Lively and Ryan Reynolds are all smiles — and no wonder, seeing as they’ve recently scored a big win in their legal showdown with Justin Baldoni.

Catch the video and pics — the duo kept it light, breezy, and in full-on good mood as Blake pushed their youngest, while Ryan walked alongside during a casual NYC stroll Thursday.

Blake was serving style-queen realness in a pastel green sleeveless vest over a white tee and denim shorts — while Ryan flipped it, rocking denim on top and keeping it chill.

The duo was sweetly fussing over their kiddo — and from the looks of it, you’d never guess they recently had a $400M lawsuit hanging over their heads. But now? They don’t — ‘cause a judge just tossed a massive suit filed by Baldoni & Wayfarer Studios against Blake and Ryan — along with JB’s $250M lawsuit against The New York Times.

As you know … Justin went after the couple and the NYT — alleging defamation over an article about all the drama on the “It Ends With Us” movie set … a story Baldoni alleged was a part of a smear campaign against him.