Legend's new bridge Chrissy Teigen and the Kings of Leon frontman's wife Lily Aldridge share the front of the annual magazine with Nina Adgal, who has romanced singers Max George and Adam Lambert.
The trio of models end Kate Upton's two-year stint as the Sports Illustrated Swimsuit Issue's cover girl.
Legend reveals Teigen sobbed when she learned she'd be on the cover of the magazine.
He says, "She cried like a baby. She was so excited... It was a surprise, because you never really know who's going to be on the cover. There are all these beautiful women.
"She's been in the issue for several years now, and every year, it's been someone else. And this year it's her. We're very excited about it."
Expressing her excitement on Twitter.com, Teigen adds, "I just cannot believe it. What an honor. Never, ever, ever have (I) felt this kind of pure joy. Crazy crazy."