Watson to join Secret Service?
The director is said to be "showing interest" in the two actresses for the female lead role, although no formal talks have taken place, reported Variety.
Newcomer Taron Egerton, who has appeared in TV series Inspector Lewis, has landed one of the supporting roles in the big screen adaptation of Mark Millar's graphic novel after beating competition from Jack O'Connell and Attack The Block's John Boyega.
Shooting is expected to start in the autumn, in time for a 2014 release.
Emma, who recently starred in Sofia Coppola's The Bling Ring and Seth Rogen and Evan Goldberg's comedy This Is The End, will next be seen in Darren Aronofsky's Biblical drama Noah alongside Russell Crowe and Sir Anthony Hopkins.