When you're a professional swimsuit or lingerie model, people expect to see you in little more than your unmentionables. The same isn't necessarily true when you're on the red carpet, but Lily Aldridge wasn't about disappoint at Tuesday night's Sports Illustrated party in NYC. PHOTOS: The 15 Sexiest Sports Illustrated Swimsuit Issue Covers Of All Time The Swimsuit Issue cover-girl stepped out for the magazine's "50 Years of Swim" party in a crop-top and skirt ensemble that barely covered her undergarments. It was quite apparent that this was no "wardrobe malfunction" either, and that Aldridge, 28, had every intention of flashing her lacy lingerie. For starters, her flowy wrap skirt featured a slit extending all the way from her navel. She also had to be aware of the chilly drafts creeping up her thigh from the frigid Northeast temperatures. Aldridge, also a Victoria's Secret model, was chosen to grace the cover of this year's Sports Illustrated Swimsuit magazine along with models Chrissy Tiegen and Nina Agdal. READ: Chrissy Teigen Reveals Favorite Fast Food, Bizarre Workout Regime Scroll down for more pictures of Aldridge and her fellow cover-girls at Tuesday's event.