with bated breath

widely used but wrong form: baited breath

meaning:
 if you wait for something with bated breath, you feel very excited or anxious while you are waiting and you probably hold your breath
 

 source 

 examples:

• They listened with bated breath for the announcement about the winner.
• We stood there with bated  breath while the man hung on the side of the bridge.
• We were waiting with bated breath for the prizes to be announced.
• She waited with bated breath for their host to emerge from the shadows.