Bailey, 30, won a silver medal in the women's doubles at the 2002 Games, and bronze in the same event in 2006.
She has slipped down the world rankings following a serious knee injury.
But she told BBC Lincolnshire: "It was a goal of mine but it looked a long way off over the last two years, but the team selectors have kept faith in me."
Bailey, who was a beaten quarter-finalist in the women's singles in 2002 and 2006, added: "Having played in two previous Commonwealth Games, my experience probably helped with their decision."
Source: news.bbc.co.uk