It sounds like you might have been thinking that it'd could be pronounced in one syllable as [ɪtd], but that pronunciation seems unlikely to me. I would also advise against pronouncing it'd in one syllable as [ɪt] (like it).
You can pronounce it in two syllables, with the 'd corresponding to the sound [əd] (references: Blog post by phonetician John Wells; Teflpedia). For me, as an American English speaker, the t of it would be voiced and "flapped/tapped" in this context because of the following vowel sound: [ɪɾəd]. In other accents, the pronunciation with two syllables might sound like [ɪtəd]. The reason for the apostrophe in this case is to represent the absence of the [w] consonant sound, not to indicate that there is no vowel sound between the t and d.
My intuition is that in quick speech, I often pronounce it'd in one syllable as [ɪd]. Wells mentions [ðæd] as a possible pronunciation of that'd. (He also says "maybe ðæt", but my intuition disagrees with him here.)
When a vowel sound follows, it'd could sound the same as it for me due to flapping/tapping. For example, I think my pronunciation of "It'd have been..." could be transcribed as [ɪɾəvbɪn] (which to my ears sounds like /ɪdəvbɪn/). But in it'd be, the following sound is a consonant: in this position, the distinction between word-final /t/ and /d/ can generally be clearly heard.
You could also keep in mind that when a /d/ sound comes before another plosive consonant in English, the /d/ may have its release "masked" by the second consonant, resulting in a pronunciation that sounds like it has the same "place of articulation" as the second plosive. In this case, that would make it sound like [b]. So [ɪɾədbi] or [ɪdbi] could sound like [ɪɾəbbi] or [ɪbbi] respectively. I'd hesitate to recommend aiming for a pronunciation with [bb] as a target, though: I think I've read that some studies have found native English speakers may actually still put their tongues in the position for making a [d] sound in contexts like this, even if it's hard to acoustically detect this [d] before the following [b]. (Nevertheless, some descriptions do call this a form of assimilation.)