Thanks! Any advice on how to cover it with more wood?

Faux paint over the new drywall.

Drywall over it. It doesnt look good at all, like it is.

You might be fine just painting it.

If you want to cover it in wood, you can buy knot-free lumber in the sizes you need and box it in...but the materials will be expensive. Wrapping it in drywall will be much more affordable. And because of the surface condition of the beam, just painting it will look cheap and unfinished, and stick out like a sore thumb.

Obivously you wanted the rustic look of exposed beam when you first made the decision to leave it exposed. Here's how to get the exact look you want. Cover it with 1/8th or 1/4tr inch thick plywood. The plywood is available in any grain,color and finish imaginable or unfinished so that you can customize finish. Use caulk or molding at transitions.