Fill a large steamer or stockpot with about 2 inches of water and toss in the salt, thyme, bay leaves, and the juice of 1 lemon. If a more emphatic lemon flavor is desired, go ahead and toss in the halves of 2 lemons. Bring to a boil.
Place the lobsters in the steamer basket or directly in the pot, cover, and steam until the shells are bright red and the tail is curled about 15 minutes. Remove the lobsters from the pot and let drain.
Meanwhile, gently warm the butter in a small saucepan over low heat. Warm it up gently so the milk solids begin to cook and sink to the bottom of the pot. Keep a close watch because once the milk solids collect and fall, they burn easily. Carefully pour the clear butter into a small dish, leaving the solids behind in the pan. (If necessary, strain the drawn butter to remove any pesky lingering solids.) Squeeze the juice of 2 lemons into the drawn butter and stir in the parsley and basil.
Serve the steamed lobster with the drawn butter and lemon wedges.