Penelope Cruz and Javier Bardem Expecting Baby #2?

Could Penelope Cruz and Javier Bardem be planning to welcome a little brother for their 17-month son, Leonardo?

According to Fox News Latino, a Spanish entertainment show recently reported that the To Rome With Love actress is three months pregnant.

Adding to the pregnancy rumors, Penelope was spotted strolling the streets of Madrid with Javier in a super loose-fitted maxi-dress.

Penelope, who has been named the Entertainment Industry Foundation’s ambassador for Saks Fifth Avenue’s “Key To The Cure” 2012 Campaign for cancer research, spoke about the beauty of motherhood for her Vogue cover story last year,  "It is a revolutionary experience. That's the best way I can describe it. It transforms you completely, in a second.”

Despite the rumors, a source revealed to US Weekly that the award-winning actress is not pregnant. Looks like Penelope is joining Shakira in the baby rumors pool!

Do you think she is pregnant?