Clarke has been ruled out with a lower back pain.
Bailey has been Australia's T20 skipper but against England at Edgbaston, this will be Bailey first big test as a national team leader in the 50-over format.
"I'm not under any more pressure than any other captain. First and foremost, my role is to score runs in that middle-order for us. If I can do that, we have enough guys and our players have played enough cricket to know the basics of the game.
Australia are the defending champions but in the last one year, they have not been in best of form. They have lost to India and England in the recent past and their 65 all out against India in Cardiff have raised doubts about their competence. England have even laughed at Australia's capitulation in Sophia Gardens.
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