It seems Blake Lively has reached a pivotal milestone in her career: The Slut Years. It’s usually Gossip Girl cutie Taylor Momsen who makes headlines for appearing pantless in public, but by God Serena van der Woodsen will not be outdone! The Sisterhood of The Traveling Pants (pun intended) starlet showed up to the Sherlock Holmes premiere at Alice Tully Hall, Lincoln Center in NYC on Thursday night in a sheer lace dress showing lots of leg and leaving little to the imagination.

Has the deepening recession gotten so bad that stars are now forced to go pantless? You be the judge! Check out more of Blake’s revealing little number: