One person was reportedly pinned in the vehicle and the other was ejected.
A second vehicle is said to to have been involved before leaving the scene.The victims have been identified as 24-year-old Timothy Parrish and 37-year-old Bryant Mitchell.
Police say neither was wearing a seatbelt.
The driver, who may have caused the accident, sped away from the scene.
Troopers are looking for a 'dark green' or 'blue Chevy Trailblazer' that has front end damage. Authorities say it is likely an older model trailblazer.
The SUV involved in the wreck was headed eastbound on US-70 at a high rate of speed, according to witnesses, when the driver lost control.
Witnesses also say that SUV was travelling at a high rate of speed.
The N.C. State Highway Patrol is investigating.