Here is an article on Petfinder the gives tips on how to prepare your kitty for a new baby.
Place a used receiving blanket or piece of infant-wear in a quiet area where the cat can investigate it. When quietly nursing, allow the cat to approach and check things out. If he follows you into the nursery at naptime, make sure he doesn’t jump into the crib. While there’s certainly no truth to the myth that cats suck the air out of babies’ lungs, a newborn does not have the capacity to turn over or even move her head at first. A heat-seeking cat who chooses to cuddle up close to the baby’s face could make it difficult for the child to breathe. Close the door to the nursery when the baby is napping. If there is no door to close, either install a temporary screen door or hang mosquito netting over the crib to keep the cat out. These precautions also prevent the cat from urinating in the crib, something he may try if extremely stressed.
Read the entire article here.