"We are so excited to add to our family! During my first pregnancy, I was sick the whole time and felt awful," the swimmer, 31, tells PEOPLE.
"So far this pregnancy has been a lot easier. I've only been sick a couple of times and I have way more energy."
Also delighted by the news is soon-to-be big brotherBlaise Ray, 3.
"He's so excited. He keeps telling me how he is going to hug and kiss the baby and help me take care of [him or her]," says Beard.
She jokingly adds, "We will see if that actually happens!"