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A hybrid lovebird is a generic term that describes the result of two species lovebirds being cross-bred. Hybrids produced by the pairing of a rosy-faced lovebird (or peach-faced lovebird) with one of the "eye-ring" species (i.e. those species which have a prominent area of white bare skin encircling the eye, Fischer's lovebird being a typical example) are usually sterile - whereas crosses between the "eye-ring" species are often fertile.
References
Hybrid lovebird Wikipedia(Text) CC BY-SA