Has Sports Illustrated gone too far?

THE latest Sports Illustrated cover leaves very little to the imagination — and is expected to turn the model into a star.

Hannah Davis on the cover of the 2015 SI Swimsuit Issue Photo: Ben Watts/Sports Illustrated The cover shot, taken by Ben Watts at Tennessee's idyllic Blackberry Farm, marks Hannah's third appearance in the issue and, we tend to think, her best just revealed in hilarious fashion on The Tonight Show Starring Jimmy Fallon. ***NORTH AMERICA usage only, ending February 28, 2015; credit: Ben Watts/Sports Illustrated; caption must include the words "on sale now." NO INTERNATIONAL USE.*** Winter 2015 Sports Illustrated Cover: Swimsuit: 2015 Issue: Portrait of Hannah Davis during photo shoot at Blackberry Farm. Swimsuit by Cynababy Swimwear. Walland, TN 8/5/2014 CREDIT: Ben Watts/Sports Illustrated SetNumber: X158481 TK1

HOW low can they go?

The latest Sports Illustrated cover leaves very little to the imagination — and is expected to turn the model into a star.

American cover girl Hannah Davis features in a microscopic bikini on the front of the mag’s swimsuit edition, even pulling down her bottoms to reveal her ... lower region.

Too much? ... model Hannah Davis leaves little to the imagination on the cover of the 2015 SIports Illustrated Swimsuit Issue. Picture: Ben Watts/Sports Illustrated

The 24-year-old model unveiled her racy shot on The Tonight Show Starring Jimmy Fallon on Wednesday night.

The photographer was Ben Watts at BlackBerry Farm in Walland, Tennessee.

This is a huge coup for the model, who has been dating retired New York Yankees baseball star Derek Jeter for over two years, as previous SI cover stars including Kate Upton and Irina Shayk have gone on to become top models.

This is Davis’ first SI cover after appearing in the swimsuit edition for two years.

“I told my mum there was no way I’d get the cover ... I told her, ‘They do beaches for covers and I’m on a farm. There’s no way. It’s not possible!’” she said.

YOU GUYS, SI model Hannah Davis was just pulling her swim bottoms down so she could better store pizza. pic.twitter.com/yEfoUMAL8j

— Julie Gerstein (@havethehabit) February 5, 2015

Hannah Davis is hotter than a fox in a forest fire. 😍🔥🔥😍

— Larrin Collins (@LarrinC3) February 5, 2015

Hannah Davis is the SI Swimsuit cover model? Jeter can't lose even in retirement. #RE2PECT #YeahJeets

— Joseph Flynn (@ChinaJoeFlynn) February 5, 2015

The model, who cried when she was told she’d landed the cover, added, “I am both shocked and excited to be this year’s cover model. This has been a lifelong dream of mine and I feel so blessed to have this opportunity.”

Loved up ... Hannah Davis (right) is dating retired New York Yankees star Derek Jeter. Picture: Splash News

Davis appears on the cover alone, a departure from last year’s cover which featured three models — John Legend’s wife, Chrissie Tiegen, Nina Agdal and Lily Aldridge.

Prior to that, Kate Upton had ruled as queen of Sports Illustrated’s Swimsuit Edition, landing the cover twice in a row while she was pictured on the back cover in 2014.

After her first cover, Upton went on to modelling success in both the fashion world for magazines including CR Fashion Book and Vogue, as well as landing contracts for brands including Express and a role in Cameron Diaz’s movie The Other Woman.

Meanwhile, Davis has never spoken about her relationship with famously private Jeter, who announced upon his retirement that he is ready to settle down and start a family.

It is not known how he feels about the cover, as sources have previously said he prefers to keep his relationships low-key.

Davis was seen with Jeter when he celebrated his 40th birthday last June and over the weekend at Super Bowl celebrations in Arizona.

On Tuesday — the night before the big announcement — she was spotted with Jeter and Michael Jordan dining at Tarbells in Phoenix.

This story originally appeared in The New York Post.