I like Reagan Ivy better, (or atleast Reagan as a first name better than Ivy) Reagan actually reminds me of a chick (off mcloads daughters) before the president...

actually how would you pronounce it? is it rEEgan, or RAEgan? (for me the EE is feminine and AE is male)

being Kailey and Ivy, might work too if you want them to have a simular 'theme' sort of thing, some people like that, but if it bothers you then yea avoid it.