The 31-year-old Brazilian beauty posed topless as she struck an over-the-shoulder pose for the cover of Vogue, wearing nothing but a pair of black bikini bottoms, reported Daily Star.
In the black and white pictures, Bundchen is seen lying face down on the sand, completely naked.
The images emerge less than a month after Bundchen was named the highest paid model in the world by Forbes magazine, banking a whopping 28 million pound in the period from May, 2011 to May, 2012.
Bundchen and her husband, US sportsman Tom Brady, have yet to comment on the pregnancy stories.