Russian_Assassin said:
And Asari are not women, in the same sense that amoebas aren't women. Though the latter does not require the genetic material of another organism to multiply.
From the Mass Effect wikia:
There is some conflicting information regarding the gender of the asari. Though they resemble females, at least to humans, asari are non-gender specific, with no concept of gender differences. Liara says her species is "mono-gendered?male and female have no real meaning for us," and, if asked, says that she is "not precisely a woman". However, in the Codex it is stated that the asari are an all-female race. The Galactic Codex: Essentials Edition 2183 says that "while asari have only one gender, they are not asexual like single-celled life?all asari are sexually female", and according to Liara they also have maternal instincts. They are innately different from humans for asari can mate with other species.
After reading that it is still kind of vague

It is clear that femShep and Liara could have children, though I wonder if Liara could get Shep pregnant..