She likes her friends canceled.

Fans think Taylor Swift’s song “Cancelled!” from her new album, “The Life of a Showgirl,” is about her alleged fallout with Blake Lively over the actress’ legal battle with Justin Baldoni.

There was speculation “Ruin the Friendship” would be about Lively, 38, but in the lyrics to “Cancelled!,” Swift seems to be defending the “Gossip Girl” alum from the public backlash she’s gotten over the last year.

“Good thing I like my friends canceled / I liked them cloaked Gucci and in scandal,” Swift, 35, sings on the 10th track from her 12th studio album.

Lively was named the face of the fragrance Gucci Premiere in 2012. She also appeared in a short ad film directed by Nicolas Winding Refn for the brand that year.

“I salute you if you’re much too much to handle,” Swift sings. “Now you know exactly who your friends are / We’re the ones with matching scars.”

“Did you girlboss too close to the sun? / Did they catch you having far too much fun?” the “Cancelled!” lyrics continue. “Come with me, when they see us, they’ll run / Something wicked this way comes.”

Swift seems to reference Lively being accused of using her for her stardom elsewhere in the song.

“They stood by me before my exoneration / They believed I was innocent so I’m not here for judgment,” Swift sings. “But if you can’t be good then just be better at it / Everyone’s got bodies in the attic / Or took somebody’s man / We’ll take you by the hand and soon you’ll learn the art of never getting caught.”

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Fans connected “Cancelled!” to Lively after the album came out Friday.

“Taylor Swift saying f–k everyone who said she had to drop Blake Lively and ‘cancelled’ basically being a defender song,” one fan wrote on X.

“taylor said f–k you to all the blake lively haters in CANCELLED!” another fan tweeted.

“Cancelled is definitely about Blake lively. ‘Welcome to my under world’ aka Taylor knows the feeling of being witch-hunted,” a different fan said.

A fourth Swiftie added, “so, re CANCELLED! she’s still friends with Blake (and Ryan), but she’s like ‘you know I empathize and I will stand by you like you stood by me, but girl, pull your head in before it gets taken off?'”

“‘I like my friends cancelled’ so we know her and blake lively are still good!” someone else wrote.

“Oh her and Blake still bestiessss. She ride or dies for her friends. IKTR,” another Swiftie tweeted.

“Dude, CANCELLED! is so infectious, also it’s Taylor Swift saying f–k off to all Blake Lively haters?” a different fan wrote.

The Post has reached out to Lively’s rep for comment.

Swift — who is the godmother to Lively and her husband Ryan Reynolds’ daughters — was first dragged into the ugly “It Ends With Us” legal battle in May when Baldoni’s side sought to depose the singer. 

Baldoni, 41, claimed in his since-dismissed suit against Lively that Swift was present for his pivotal meeting with Lively at the NYC penthouse she shares with Reynolds about allegedly rewriting the infamous rooftop scene from the film.

The “Jane the Virgin” alum also accused Lively of calling Swift and Reynolds her “dragons” and referring to herself as Khaleesi from “Game of Thrones” in an alleged text conversation.

Baldoni’s attorney, Bryan Freedman, later issued a letter to Judge Lewis J. Liman claiming he was told by an anonymous source that Lively’s lead lawyer, Michael Gottlieb, allegedly threatened to release Swift’s text messages if the “Style” singer didn’t publicly support Lively.

Gottlieb denied the allegations — and the judge granted Lively’s motion to strike the letter, calling Freedman’s filing “improper” and “irrelevant” in the order obtained by The Post.

Last month, a judge denied Baldoni’s latest attempt to depose Swift in the case. Swift’s lawyers have also denied that she agreed to be deposed and had any involvement in the drama.

“Taylor Swift never set foot on the set of this movie, she was not involved in any casting or creative decisions, she did not score the film, she never saw an edit or made any notes on the film, she did not even see ‘It Ends With Us’ until weeks after its public release, and was traveling around the globe during 2023 and 2024 headlining the biggest tour in history,” Swift’s rep told The Post in May.

Swift and Lively have not been seen in public together since before the singer got dragged into the legal battle.

A source told the Daily Mail in June that Swift “has totally cut ties” with Lively and is allegedly “ignoring” all calls, texts and emails from her former bestie.

“Taylor obviously still means so much to Blake, but Taylor’s totally done with her and as of right now, no requests will mend their bond as far as she’s concerned,” the insider shared.