The 24-year-old actress will be seen alongside Daniel Craig in the upcoming 007 movie, which is to be directed by Sam Mendes. It will be set in Afghanistan, reported.
"It will be a typically glamorous and raunchy role and Dev (Patel) has been joking to friends he is cool with seeing Freida rolling around with 007, " said a source.
Meanwhile, American actress Olivia Wilde is reportedly in talks to star as the second Bond girl in the 23rd outing of the spy franchise.
"Sam (Mendes) has been talking about Bond for months now and is so excited about it. The project has been in the pipeline for months and Freida was always the dream Bond girl, but initially she was nervous about accepting it, " said a source.
"This is going to be the most ambitious 007 yet. Sam plans to reinvent the genre. Peter Morgan, who wrote 'The Queen', has penned the first draft of the script and it promises to be visually stunning."
However, Freida's official spokesperson in a statement said, "I would like to confirm that as of today, Freida Pinto has not been approached to be part of the next Bond film."
"It is of course very flattering to even be rumoured to be part of a Bond film but she has certainly not been approached for the role of the next Bond girl opposite Daniel Craig as yet," he added.