The phenomenon that occurs when a man wearing relatively tight/slim pants keeps his phone, wallet, iPod, etc. in his pocket, causing it to bulge out noticeably, so much so that it's often possible to identify the item from its outline alone.
*Two coworker friends are talking in the break-room as a third leaves*
Coworker #1: "HAHA ... dude did you see Mike's pocket pregnancy?!?"
Coworker #: "Did I see it?? I'm not blind bro ... I don't understand how he can walk around with that thing ... that's just GROSS!"
Coworker #1: "Yeah and as if that weren't already bad enough you can see clearly that he's still using that iPhone of his ... everyone knows the Evo is better!"
Coworker #2: "Word bro! The iPhone is LAMESAUCE."
*Two bros finish having lunch and get up from the table*
Chris: "Holy shit dude I told you last time ... no boners when we're alone together in public!!"
Matt: "Dude calm down ... it's just a pocket pregnancy"