Blake Lively has been the talk of the town since she attended a special screening of “The Private Lives of Pippa Lee” hosted by The Cinema Society on Sunday in New York City wearing a cleavage baring jacket.

Escorted by her Gossip Girl co-star, and boyfriend, Penn Badgley, the starlet wore a gorgeous plunging neck Marchesa jacket paired with black shorts. Ever since, all I’ve read is about her cleavage and perfect “assets,” with little mention of her spectacular jacket.

The jacket is from Marchesa’s Spring / Summer 2010 collection that was presented at New York Fashion Week in September, where Lively sat front row. The white, embroidered blazer features a deep v-neck, met at the waist by a sculptured bow detail. Taking her cue from the runway, Blake paired the delicate jacket was paired with a pair of edgy short shorts, making the ensemble less formal.

Rumor has it that Lively was approached by Victoria Beckham to model her next collection of dresses, but nothing has been confirmed yet.