According to unsubstantiated rumours from gossip website Media Take Out, Good and Franklin are said to be working with a major magazine to make the formal announcement and release official pregnancy photos.
IBTimes UK has reached out to Good's representatives for comment and is awaiting a reply.
She also jetted off for a romantic getaway to Mexico for the new year, where she posted snaps of the pair on the beach.
In one snap she shows off her curves in a mismatched bikini.
The report comes a day after the couple were spotted on the red carpet at 2016 People's Choice Awards.
Beginning her career at the age of four, Good has appeared in numerous commercials, television shows, feature films, and music videos.
In 2011, Good featured in an ensemble cast of the highly successful film version of Think Like a Man.