He said: "Being the Doctor? I don't think I'd do it for two reasons. One, I'm really loving doing movies. I'm really enjoying working in the US. Second, I really love Doctor Who and I'd hate to have to sit down every Saturday night and have it be me. "
"David's done such an incredible job, he's gonna be a tough act to follow. It would feel awful if I just went and balled up the franchise by just being rubbish."
Pegg's next film How To Lose Friends & Alienate People, in which he co-stars with Gillian Anderson and Megan Fox, is scheduled for release in the UK on October 3.