Next time tell him that if he isn't going to provide something constructive to the meeting, that he won't be allowed to join further ones. As long as you make it clear from your tone and wording, that this is not you being aggressive in any way but you protecting the time of the team from distractions, the rest of the team shouldn't see you any different than before.
Don’t do this in front of the team. This sort of message should be delivered privately. Doubt this is the way to go anyway but it’s definitely not something to say during the meeting.
I would 100% do it anytime because at some point enough is enough and you as the lead should have the backbone to put him into place. Best things is he shuts up forever, worst thing is he get's pissed off, goes to the manager and the manager sides with you anyways because you're known to be a good employee and he quits by himself/gets fired.
Obviously this is a rare thing to do, but from reading the other comments it's miles better than being bullied out, quitting and letting the other person continue with that attitude