The Olympic swimmer and husband Sacha Brown are expecting their new addition in July.
"We are so excited to add to our family!" Beard tells the magazine. "During my first pregnancy, I was sick the whole time and felt awful. So far this pregnancy has been a lot easier. I've only been sick a couple of times and I have way more energy."
The seven-time Olympic medalist and Brown, who wed in May 2009, are already parents to son Blaise Ray, 3.