The 51-year-old former governor of Alaska opened up about the 25-year-old television personality in an interview with "CBS Sunday Morning."
Bristol Palin is mother to 6-year-old son Tripp with ex-fiance Levi Johnston, and now 34 weeks pregnant by ex-fiance Dakota Meyer.
"Being a single mom is, oh my goodness, my heart goes out to the single parents," Palin said. "[I have] enormous admiration for what it is that they're able to accomplish doing double-duty. I watch Bristol do double-duty all the time, you know, with her little boy, Tripp."
"I can't wait for about 45 more days, and I'm gonna have a little baby granddaughter," she added. "And I'm happy about it."
Bristol Palin and Meyer ended their engagement in May, and the television personality announced her pregnancy the next month.
Palin said she "absolutely" sees her future granddaughter as a blessing, despite her aversion to having children outside the confines of marriage.
'The cool thing about puttin' your faith in God is, He certainly is a God of second chances, and third, and fourth, and fifth chances," she said. "I screw up all the time."
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Palin and husband Todd Palin married in 1988, and are also parents to sons Track and Trig and daughters Willow and Piper.
Palin served as governor of Alaska from 2006 to 2009, and has since appeared on The Sportsman Channel series "Amazing America with Sarah Palin."
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