Jay Z and Beyonce – Water Aerobics, Anyone?

Jay Z and Beyonce are just like every other family on vacation ... if your family could afford a fabulous trip all over Italy's Mediterranean coastline at 5 star resorts and villas.

The couple and daughter Blue Ivy have been on an extended European vacation and turned up Tuesday poolside, where they got a dose of reality when they hit the chilly water ... though a little water aerobics and PDA took care of that.

The bigger potential issue with these pics -- the great prego debate! Half the people in our office think Bey looks like she's expecting ... the other half think she just had lunch.