Taylor Swift and Blake Lively are currently not on speaking terms as Swift prepares to release her next album, The Life of a Showgirl, in October, as a source tells PEOPLE.

The song 'Ruin the Friendship' off Taylor Swift's newly announced album, 'The Life of a Showgirl,' is sparking fan speculation it could be about Blake Lively. Here's what we know.

"The global frenzy around Lively has left Swift questioning her close friendships and how she can prevent ‘external factors’ from damaging her own reputation. Taylor is taking stock of which of her friends are good for her and who name drops her for personal gain after Blake-gate.