Yes, there is a song on Taylor Swift's new 2025 album "The Life of a Showgirl" that fans believe is about Blake Lively. The song titled "Cancelled!" is widely speculated to address Taylor Swift's longtime friendship with Blake Lively, referencing Lively's public controversies and their rumored fallout related to legal issues involving Justin Baldoni. The song appears to be more of a defense and expression of loyalty rather than a diss track, with lyrics that hint at supporting a friend through public scrutiny and cancel culture. Another song, "Ruin the Friendship," which fans initially thought might be about Blake Lively, is clarified by Swift to be about a high school crush instead, not related to Lively. So, the track "Cancelled!" is the one connected to Blake Lively on this album.