The pair are already parents to 1-year-old daughter Bella.
Davis was spotted with a sizable baby bump as she and Jeter stepped out for dinner in New York City on Friday night.
The 28-year-old Sports Illustrated swimsuit model showed off her burgeoning belly in a curve-hugging black dress and green bomber jacket. Jeter, 44, meanwhile, looked casual in a blue pullover sweater and jeans.
The couple, already parents to 1-year-old daughter Bella, have yet to confirm Davis' second pregnancy. They tied the knot in a beautiful, intimate ceremony at Meadowood Napa Valley Resort in St. Helena, California, in 2016.
ET has reached out to Jeter and Davis' reps for comment.
Davis' baby bump was a little less noticeable as she and Jeter walked the red carpet at the former New York Yankees star's foundation event, the 22nd Annual #Turn2Gala, the night before.
"I'm just so happy right now,” she said. “I'm sure, just like every woman, after you give birth, you're gonna be self-conscious and get back [in] shape, or just what you're comfortable with, but I'll cross that bridge when I come to it.”
See more on the model in the video below.
Derek Jeter Honored at Yankee Stadium Alongside Pregnant Wife Hannah, Admits He's 'Nervous' About Fatherhood