It takes about 2 days for an egg to form, travel down the cloaca and come out. You can't tell the female is pregnant - she will not look swollen. You might be able to tell when she's about to lay one because maybe you'll see her straining a bit at the bottom of the cage. If you see your budgie straining for a few hours, your parakeet could be suffering from a potentially-fatal condition known as egg-binding, where the egg will not come out. If you see this, you can try to dab some warm olive oil around the opening, but if this does not help her, get her to a vet as soon as you can! This is an emergency situation and your keet can die if this is not treated quickly enough!
You might also find some helpful info at:
http://www.petpublishing.com/birdtimes/breeds/keet.shtml
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