There are two ways to mute a hue (a pure color): with gray or with brown. Kim Kardashian looks like she's wearing an opaque pink softened with gray. MAC describes Angel lipstick as "Soft pink (Frost)." NARS describes Turkish Delight lipgloss as "pink sorbet."
Karen's lipsticks offer the most opaqueness but there doesn't seem to be a lipstick matching what you desire. Here's what I think is close:
Aria (YLBB Nude Pink) looks like a light-medium pink slightly muted with gray, but it's described as very sheer, so it won't offer enough opacity to cover up your natural lip color.
Swept Away (Medium Nude Pink Demi-Gloss/BB Sandwash Pink Clone) looks like it's muted with brown and has moderate pigmentation. There may be some gray in Swept Away, but I don't trust my monitor enough to state that with confidence.
XOXO (Sparkley Mauve Demi-Gloss) looks similar to Swept Away when swatched, but the effect is achieved differently. From the site description: XOXO is "a cool toned mauveish heavier coverage pink with A LOT of beige glitter. It sounds dreadful- but there's a fantastic synergy that goes on when you mix a conservative mauve with something only a magpie could love. You get a very wearable color that's not too boring, not too sparkley- but absolutely stunning. Because it's a balanced color it should look great on a lot of different skin tones."
From left to right: Aria, Swept Away, XOXO
In case you want to consider other shades, here are some more swatches (from JenW) for comparison:
, I've tried layering Modern Poet over Grace and the result was a similar tone, though not quite as light as you're looking for. I could image Kiss 'N Tell with Modern Poet (or maybe Pink Lady) on top would result in something close to the colour in the picture (Modern Poet toning things down a bit) . Divine shows up more brownish on me personally. Hope this helps 
