As you probably already know, both beauties are starring in their own upcoming versions of the classic Snow White story. Stewart takes on the tale in Snow White and the Huntsman while Collins stars as the heroine in Mirror, Mirror.
And while some would think the starlets secretly wish the other would take a bite of a poison apple...
Collins says that couldn't be further from the truth.
"We've laughed about the fact that people think we're rivals because to us they're so different," Collins told us last night at her Nylon magazine dinner party at Scarpetta in Beverly Hills.
"I think the advertising is kind of genius because both films are being shown in this different way because they are such different stories," she continued. "I've seen the trailers, I'm very aware of the other one. We've always been aware of each other and I'm excited to see what Kristen does...I'm excited for her and vice versa."
Collins says it was a dream come true getting to work alongside Armie Hammer, who plays her Prince Charming, and Julia Roberts, who stars as the Evil Queen.
"Armie Hammer is like the perfect mix of goofy and funny, yet so sophisticated, smart and just such a gentleman," she gushed.
"If I could have shown on screen how I was genuinely feeling when she was being mean to me, it would have been me smiling and laughing the whole time," Collins smiled. "Because it was me pinching myself that it was actually happening. She is an amazing, incredible woman."