Giuliana Rancic attends the Gracie Awards Gala on May 22, 2012 in Beverly Hills, California. Credit: Jason LaVeris/FilmMagic

For Giuliana Rancic, timing is everything.

After several failed IVF treatments and a miscarriage, the E! News co-host, 36, and her husband, Bill, 41, will welcome their first child via gestational surrogate in just a few months. But according to Giuliana, she may not be in town -- or even the country -- to witness her son's birth.

"The baby is due the end of August, and I wrap at the Olympics [in London] on August 11. So we are going to be on standby," she said on TODAY July 2.

"We think it's going to be OK," she added optimistically. "The doctor assured us. He thinks maybe even early September the baby will come."

According to Giuliana, her husband is eager to begin bonding with his little boy. "It was funny because I told Bill, 'You realize you can't play ball with him for awhile?'" she laughed. "I think he thinks at six months they're going to be playing catch. I'm like, 'Honey, that doesn't happen for a little while.' He's like, 'I was waterskiing at three-years-old.' I'm like, 'Slow down, honey!'"

Giuliana added: "He's like, 'I just want an NFL quarterback. I'd like a CEO, but we compromised, and you know what? We'll take healthy."