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The Transformers: Revenge Of The Fallen star passed on playing Daniel Craig's love interest in the 23rd 007 adventure, the Daily Star reports.
"She'd rather be a more central part of the movie," a source told the newspaper.
It was previously reported that the follow-up to 2008's Quantum Of Solace will feature the secret agent on a mission in Afghanistan.
Actor Michael Sheen is said to be in talks to resurrect famed bad guy Ernst Stavro Blofeld, while Peter Morgan has been confirmed as co-writer on the upcoming instalment.
The next James Bond film is scheduled for a 2011 release date.
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