Bailey missed last year's inaugural showpiece in her home city after giving up swimming to concentrate on a new career in the saddle.
But a racing accident in Spain last weekend means the much-decorated Paralympic star must wait until 2007 to make her World Cup debut.
"I should have been riding at the Velodrome last night so I'm gutted," said Mancunian Bailey, who at least could cheer on boyfriend Barney Storey to a new world record.
"And the Swiss rider they've brought over to replace me and compete against the Chinese girl is the one I beat by 10 minutes last weekend."
Bailey was racing in a disability road event in Bilbao when the nasty crash took place.
It left her with a broken collarbone and severe bruising.
"It happened in the last kilometre on the last lap in the last race," she explained.
"I had virtually won my event and was helping one of the guys on the team try to make up a two-second deficit in his event.
Surgery
"Unfortunately for me, two Spanish guys came on either side, caught my wheel and took me out.
"I landed on my head and then on my shoulder.
"I was in real pain but still wanted to win the race. So, I got back on the bike and managed to finish. I didn't think I could ever ride one-handed but obviously I can.
"I'm just waiting now for surgery but there was no way I could have competed this weekend.
"I'm just looking forward to the World Championships later this year and hopefully it will be third time lucky for me at the World Cup in 2007."
After four days of wheelchair basketball, it was the cyclists' turn to try to win Britain's first gold medal of the event, which finishes tomorrow with track and field athletics at the Regional Athletics Arena.
Mossley-based Storey and Anthony Kappes, from Hayfield in Derbyshire, made a great start, breaking their own world record in the 200 metres tandem sprint.
"We've had great preparation in the last few weeks and breaking the record is a great boost for us," said a breathless Kappes.
Jody Cundy, like Bailey a former swimmer, teamed up with Darren Kenny and Mark Bristow to break the team sprint world record.
Not to be outdone, Gary Rosbotham-Williams smashed his own British record when qualifying for the 3,000 metres pursuit final.
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