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Image: Miranda Kerr and Fantasy Bra
Shannon Stapleton  /  Reuters
Model Miranda Kerr poses next to the Victoria's Secret 2011 Fantasy Bra in New York on Wednesday. The bra, designed by London Jewelers, contains 142 carats of diamonds in addition to pearls, citrines and aquamarines.
updated 10/19/2011 3:28:48 PM ET 2011-10-19T19:28:48

Blinged-out bubbies! Miranda Kerr (and her famous cleavage) have been chosen to wear this year's Victoria's Secret jewel-encrusted Fantasy Bra. The 28-year-old Australian beauty will model the $2.5 million stunner in the lingerie brand's Christmas Dreams & Fantasies catalogue and on the catwalk during the Victoria's Secret Fashion Show, which will be televised in November.

PHOTOS: Check out the sexiest moments from last year's runway show

"I have always wanted to wear the Fantasy Bra, and when my agent called me and told me, I was so excited. It was really special," Kerr told Us Weekly at the bra's launch event on Wednesday in New York City.

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PHOTOS: Miranda, Orlando and other sexy Aussies!

The wife of Orlando Bloom and mom to 9-month-old son Flynn follows in the footsteps of Victoria's Secret Angels like Tyra Banks, Heidi Klum, Selita Ebanks and Adriana Lima who've all rocked a version of the eye-popping creation.PHOTOS: Supermodel moms

The latest version, which boasts 142 carats of white and yellow diamonds among 3,400 hand-set stones, actually has a less impressive price tag than in year's past. In 2000, Gisele Bundchen worked the Red Hot Fantasy Bra and Panties set, worth $15 million — and set a Guinness World Record for most expensive lingerie set ever created.

PHOTOS: 10 best celebrity diamond engagement rings

As for how it feels to wear the decked-out design?

"It was magical. Felt like a million dollars. Or $2.5 million!" Kerr gushed to Us.

TODAY.com: Lingerie dance party ends Victoria Secret's show

Slideshow: Legs and lingerie: Victoria's Secret Fashion for 2010 (on this page)

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Copyright 2012 Us Weekly

Photos: Legs and lingerie: Victoria's Secret Fashion for 2010

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  1. An angel gets her wings

    True to form, Victoria’s Secret put on a rollicking fashion show for 2010 on Nov. 10, putting their skimpy, sexy and over-the-top lingerie on parade. Along for the ride came celebrated models Adriana Lima, Chanel Iman and Karolina Kurkova as well as pop stars Akon and Katy Perry, who turned the proceedings into a scantily-clad dance party. Read the full story here.
    Model Rosie Huntington-Whiteley shows off her wings, among other assets. (Seth Wenig / AP) Back to slideshow navigation
  2. Fashionable feathers

    The sporting of wings at Victoria's Secret fashion shows is a rite of passage for a model, signifying her elevation to top model status for the brand.
    South African model Candice Swanepoel presents a feathery creation. (Lucas Jackson / Reuters) Back to slideshow navigation
  3. Sporty and spicy

    Model Izabel Goulart is ravishing in racy ribbons. (Seth Wenig / AP) Back to slideshow navigation
  4. A kiss from an angel

    Model Alessandra Ambrosio blows a kiss to the audience at the Lexington Armory in New York City. (Lucas Jackson / Reuters) Back to slideshow navigation
  5. Eat your heart out, Rainbow Brite

    A model shows off a colorful creation at the Victoria's Secret Fashion Show. (Seth Wenig / AP) Back to slideshow navigation
  6. Bodacious bubbles

    Model Chanel Iman opens fire at the audience in a bubbly ensemble as actor Alan Cumming watches from the front row. (Peter Foley / EPA) Back to slideshow navigation
  7. Flaunting Flavia

    Statuesque model Flavia de Oliveira shows off another creation. (Lucas Jackson / Reuters) Back to slideshow navigation
  8. Playful plumage

    American model Erin Heatherton sports the iridescent colors of a peacock. (Lucas Jackson / Reuters) Back to slideshow navigation
  9. Lovely in lace

    German model Julia Stegner walks in an elaborate hoop skirt. (Lucas Jackson / Reuters) Back to slideshow navigation
  10. Starry night

    Belarus model Katsia Damankova unveils a celestially sexy design. (Peter Foley / EPA) Back to slideshow navigation
  11. Start your engines

    Czech model Karolina Kurkova looking appropriately racy. (Seth Wenig / AP) Back to slideshow navigation
  12. Anja takes flight

    Polish model Anja Rubik assumes the stage. (Timothy A. Clary / AFP - Getty Images) Back to slideshow navigation
  13. Brazilian beauty

    Brazilian model Izabel Goulart gives it some sultry smolder. (Lucas Jackson / Reuters) Back to slideshow navigation
  14. Shannan's ready to play

    American model Shannan Click displays her athletic side and a whole lot more. (Lucas Jackson / Reuters) Back to slideshow navigation
  15. Showing the colors

    Chinese model Liu Wen lets her flags fly. (Lucas Jackson / Reuters) Back to slideshow navigation
  16. Boots and bodice

    Russian model Anne Vyalitsyna assumes the catwalk. (Lucas Jackson / Reuters) Back to slideshow navigation
  17. Untamed

    American model Caroline Winberg answers the call of the wild. (Peter Foley / EPA) Back to slideshow navigation
  18. Sparkle in the rain

    American model Shannan Click presents a playful creation. (Peter Foley / EPA) Back to slideshow navigation
  19. Gorgeous in gingham

    Model Candice Swanepoel gives new life to gingham. (Lucas Jackson / Reuters) Back to slideshow navigation
  20. Steady, now

    Czech model Karolina Kurkova shows off her wings. (Peter Foley / EPA) Back to slideshow navigation
  21. Belarusian bombshell

    Model Maryna Linchuk walks the walk. (Lucas Jackson / Reuters) Back to slideshow navigation
  22. Just a country girl

    Model Lindsay Ellingson wears a straw corset with wings to match. (Lucas Jackson / Reuters) Back to slideshow navigation
  23. Katy's moment

    Pop star Katy Perry performs a medley during Victoria's Secret Fashion Show in New York, Wednesday, Nov. 10. (Seth Wenig / AP) Back to slideshow navigation
  24. Akon's "Angel"

    R&B star Akon performs "Angel" during the section of the show dubbed "Heavenly Bodies." (Seth Wenig / AP) Back to slideshow navigation
  25. Tough love

    A model shows off a spikier side of Victoria's Secret (Seth Wenig / AP) Back to slideshow navigation
  26. Pumping iron

    A model flexes her muscles for Victoria's Secret. (Seth Wenig / AP) Back to slideshow navigation
  27. Wild and winged

    A model shows off her wings in an elaborate production at the Victoria's Secret Fashion Show. (Lucas Jackson / Reuters) Back to slideshow navigation
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  1. Image:
    Seth Wenig / AP
    Above: Slideshow (27) Legs and lingerie: Victoria's Secret Fashion for 2010
  2. Victoria's Secret model Doutzen Kroes ba
    Timothy A. Clary / AFP - Getty Images
    Slideshow (27) Victoria’s Secret feisty fashion '09

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