On May 5, Katie Holmes and her 2-year-old daughter, Suri (in a Pucci-inspired sundress), hit the streets of NYC in search of high fashion — and not just for Katie! “Katie’s obsessed with shopping for her little girl,” says an insider.

And nothing is too expensive for Suri, who steals the show when out with Katie, 29, and dad Tom Cruise, 45. “Katie thinks nothing of spending $250 to $500 on a dress or buying shoes she’ll grow out of in a couple of months,” says the insider.

For more on Suri's fashions, pick up the latest issue of Life & Style, on newsstands now!