Niall Browne, Collider’s guy in London, just emailed me from the Wanted junket in London where James McAvoy said, "it's not true by the way, it's all internet rumoring and nothing else I'm afraid. Sorry."
He, of course, was referring to the internet rumors that he’ll be playing Bilbo Baggins in the upcoming Hobbit movies.
I'm thinking that at this point, McAvoy is responding to questions like "Will you play Bilbo?" with a no, since no casting has been done or announced yet. The rumours have him pretty much already as a lock for the role, which is probably not true. Is he being considered and would he consider playing Bilbo if he were officially to be approached? My money is still on yes for that.