Merrily \m(e)-rri-ly\ as a girl's name is a variant of Merry (Old English), and the meaning of Merrily is "joyful, lighthearted".
The baby name Merrily sounds like Merrill, Merril, Merrili and Merrile. Other similar baby names are Kerril, Derrill, Marrilyn, Merrall, Merill, Merrilee, Merrie, Merri, Merryl, Merrell and Terrill.