According to the official blog, two new OVAs of Queen's Blade were announced. The OVAs will be 40 minutes long total and will be bundled with the Queen's Blade Premium Visual Book (Oct 2011) and the Queen's Blade Rebellion Premium Visual Book (Jan 2012). Both of the episodes will be based on Queen's Blade Rebellion, a sequel to Queen's Blade: Utsukushiki Toushitachi.

1st episode: Alleyne accepts Annelotte as her disciple.
2nd episode: Ymir and Sigui head for Gynos together.
First-person anime: Private trainings with Alleyne and Sigui from the first person point of view.

Staff
Director: Kageyama Shigenori ("Kakyuusei 2: Hitomi no Naka no Shoujotachi")
General Anime Director: Rin Sin (Queen's Blade series)
Script: Shirane Hideki ("Hidan no Aria"), Ito Michiko
Production Studio: Arms

New Cast:
Annelotte: Endo Aya
Sigui: Kobayashi Yu

Source: Queen's Blade official blog
It is unclear whether the two visual books will carry the same OVA DVD or if the 40 minute long OVA will be split into two.

Queen's Blade OVA on MAL