Good question. If you really want it now, I'd definitely recommend talking to your ob-gyn about it. But personally, I'd wait until after the baby just in case. I did find this:
"If you have a clitoral piercing, your caregiver is almost certain to recommend that you remove it pre-labor. Many women find that the increased blood flow to their genitals makes a clitoral piercing uncomfortable in any case. During labor there’s a risk your piercing might come loose and tear your skin, increasing the risk of infection, or hurt your baby’s head."
http://www.gurgle.com/articles/Early_Pregnancy/22799/Belly_button_piercings_and_pregnancy.aspx 
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