Isn't It a Lovely Night? Lyrics

Lyric discussion by karenina 

Cover art for Isn't It a Lovely Night? lyrics by Decemberists, The

I agree with Mousesong. "Little Death" is another way to describe an orgasm. The baby hasn't been born yet, I don't think because I think they are singing to it as an unborn child in this song. Also, if it were born, then what happens to it when Margaret is abducted?