Penélope Cruz Covers V, Talks Motherhood, Johnny Depp

penelope cruz
Photo: Mert Alas & Marcus Piggott for V
Cruz control: Penélope dominates the August cover of V Magazine.

Penélope Cruz channels Victor/Victoria on the latest cover of V magazine, themed (appropriately) the Transformation issue.

On the graphic neon cover (complete with a blinking-eyes hologram!), the gorgeous star sports a Ralph Lauren tuxedo and bold red lips—while inside, she goes femme fatale in a slinky black dress by Halston and white shearling Bill Blass vest, topped off with a massive Neil Lane cocktail ring.

“Something happens that is really addictive about the investigation,” she said of her own research on the roles she plays. “It’s a beautiful thing. You can go into a different state when you are portraying somebody … A part of you becomes almost obsessed with that other being. That is the feeling that I look for.”

She’s had that feeling in her personal life as well, the actress revealed. “The biggest transformation is becoming a mother,” she said. “It changes you forever.”

While Cruz stays mum on her impressively private relationship with husband Javier Bardem, there’s another man in her life she’s not afraid to dish about: Pirates of the Caribbean: On Stranger Tides co-star Johnny Depp.

“Johnny wears everything better than I do,” she said. “He even wore a dress in the movie he did with Javier, Before Night Falls. He wore that dress really well.”

We don’t know, that Halston number looks pretty amazing …

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Photos: Mert Alas & Marcus Piggott for V

Oh, boy! The actress goes to masculine and feminine extremes in V magazine.

In related news, check out Penélope Cruz’s recent Vogue cover.