Legend, 39, discussed the possibility of baby No. 3 on Wednesday's episode of Big Boy's Neighborhood after welcoming his second, son Miles, with Teigen in May.
"I think so. We would like to," he said of the prospect. "We can do three."
Legend is parent to Miles and 2-year-old daughter Luna with Teigen, whom he married in September 2013. The couple met on the set of Legend's "Stereo" music video, which the singer discussed during the interview.
"She was the only other person in the video with me and we bonded that day and made a connection," he recalled.
Legend was initially attracted to Teigen's beauty and sense of humor.
"She had a great sense of humor," he said. "She's funny, she's fearless, she's effervescent and she's beautiful ... She was beautiful at first sight and we connected, for sure."
Teigen shared a photo and video last week during Luna's first week of preschool. She made her daughter an album of family photos to take to school with her.
"first week of school," the 32-year-old model wrote on Instagram. "they had us make a little family photo album she can look at when she's sad or upset. she loves it. my heart ksosksodododosksidojsjskodmskzh."