Penelope Cruz: Key to the Cure Ambassador!

Penelope Cruz and her husband Javier Bardem go out for lunch with some friends on Wednesday (July 18) in Madrid, Spain.

The 38-year-old actress, who is rumored to be pregnant with her second child, wore a loose-fitting floral patterned dress.

PHOTOS: Check out the latest pics of Penelope Cruz

Penelope was just named the Entertainment Industry Foundation ambassador for Saks Fifth Avenue’s 2012 Key To The Cure campaign.

“Cancer has affected each and every one of us in one way or another and I am thrilled to be involved with this wonderful cause,” Penelope said of joining the cause.