No it does not say her lips are praising but her soul (being) glorifies God cause she’s is immaculate conception fullness of grace!
Our soul consists of our mind, emotions, will and also our physical body, which all ate referred to as our flesh. Our spirit is distinctly separate in a special compartment within our souls. This compartment is empty, dead, void, when we are born. When we receive Christ, God brings that part of to life - we become born again and now able to have a relationship with God. He dwells in this compartment - which is you, a perfected you, separate from your flesh (where sin dwells). It's design is modeled after the Most Holy Place in the Old Temple, where God dwelled. It was separated by a veil. So you can liken the outer court with all the elements to our soul.
This is confusing because people always thought soul and spirit were the same. If they were, they could not be separated. The Word is able to divide the two. They are so highly integrated that they seem like one nature, but in fact we have this dual nature warring against each other. Stephen said as he was being stoned to death, "Receive my spirit." Your spirit is the perfected YOU containing all that is good in your mind, emotions, will, the part that is actually "in Christ".
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For the word of God is quick, and powerful, and sharper than any two-edged sword, piercing even to the dividing asunder of soul and spirit, and of the joints and marrow, and is a discerner of the thoughts and intents of the heart.”
So when a Christian dies, the spirit separates from our soul and goes to the LORD, pure, white as snow.
So when we praise God audibly it is with our souls (Luke 1:46)and from a deeper part, in our spirits, We rejoice (Luke 1:47)