The subject of James Bond was brought up while the pair were promoting their upcoming film, Equals.
"I think I'm a little bit too young to be honest," Hoult, 26, said when asked by E! News if he would be up for replacing Daniel Craig as Bond, mentioning how the character is normally portrayed as being in his "30s or 40s."
"Yeah but that's getting a little stale," added Stewart.
Hoult then recommended Idris Elba for the part before he and Stewart began speaking out against critics who are against diversifying the character. "We'll walk into the screen test and I'll see you dressed in a tuxedo," the actor joked before Stewart laid out how a female Bond could be introduced.
"You start off as the Bond girl and then you think it's just the girlfriend and then you're like, 'She's actually [Bond],'" she said "In the trailer, it's him and then [a] bait and switch," she said. "I'll be like your Q," Hoult chimed in referencing Bond's gadget expert.
Interest in who can become the new James Bond started when Craig mentioned in October before the release of Spectre that he would rather "slash his wrists" than make another 007 film.
Equals arrives in theaters July 15.