The passengers fell overboard Wednesday night leading to the search of a large area of nearly 300 nautical miles.
Carnival says they didn’t realize the cruisers were missing until the boat docked and passengers disembarked the Carnival Spirit at Sydney's Circular Quay.
Police then found surveillance video that showed the couple fell from the ships mid deck the night before.
It’s still not known if the passengers jumped or fell, the video is being enhanced to see if more can be discovered.
Carnival reports that no life preservers are missing from the ship and no one saw the two go overboard despite there being 600 video cameras aboard.
One police spokesman said "this is a tragic event at the moment, but we're holding out hope we might be able to find these people alive."