Not sure how reliable are these articles but it looks like Katie will be on the cover.
Hollywood Report:
WEEKEND JOURNAL
Hollywood Report: Recasting Mrs. Cruise --- Holmes Tries to Restart Career After Tom, Baby; Mulling 'Mad Money'
By Kate Kelly
26 January 2007
The Wall Street Journal
"....Much has changed for Ms. Holmes since two summers ago, when she was known primarily as the pretty ingenue from "Dawson's Creek" and films like "First Daughter" and "Go." Since then she's become a mother, married into great wealth and begun hobnobbing with figures like Yahoo's chairman and chief executive, Terry Semel, and David and Victoria Beckham, the world-renowned soccer player and his wife. (Ms. Beckham -- the former Spice Girl known as Posh -- "styled" Ms. Holmes for a coming Harper's Bazaar cover)..."
KATIE'S POSH SUIT
by CAROLINE HEDLEY
13 December 2006
Mirror
EXCLUSIVE
VICTORIA Beckham has got girlie Katie Holmes in touch with her masculine side - by dressing her in manly suits for a fashion shoot.
Posh, 32, directed the session with friend Katie, 28, in Los Angeles and the sensational images will grace the front cover of revered fashion mag Harper's Bazaar. A US-based source said: "Victoria wanted an almost androgynous look for Katie and the result is incredible."