And do you have enough money for breeding?
Like Maltese_Love said, breeding can be very expensive. Even if there aren't any unforeseen problems (such as the mother needing a caesarean section, which can cost $500 or even more). Some puppies might be still-born or die shortly after birth and the mother is also at risk of dying during birth, as well as from various cancers which can virtually be eliminated by spaying.

With 25 to 30 percent of dogs in shelters being purebred according to the Humane Society of the United States, dogs have to have much more than being purebred to be bred. They have to be perfect specimens of their breed, including being free of genetic, psychological, or physiological defects, and all of that testing costs money. I don't show or breed, however I've read that showing a dog to championship can cost upwards of $1800. There is then a stud fee, and when the pups are born they have to go to the vet many times. They need vaccinations, they need to be de-wormed, and the breeder is responsible for the costs of registering each individual dog with the AKC and for the transfer of ownership papers.

Elly sounds like she has a great home who really cares about her, and there are many dogs who are in need of such a great home, especially Labs. There are over 13,000 Labs for adoption on Petfinder alone, which is MUCH more than any other breed, and many of them purebred, if you might want another pup, would you be interested in adopting one of those cuties instead of making more unwanted puppies (statistics say that less than one in four puppies stay in their first home)?

I hope you consider what we've said with an open mind, since you're looking on boards you really must want what's best for your little girl .

ETA:

Neutered animals generally live longer, happier lives. Not only do they have less of a tendency to roam, spaying dramatically reduces the risk of contracting uterine infections, mammory tumours, and breast cancer. In fact, the chances of breast cancer in female dogs increases significantly with each successive heat.