If you're ok having both hosts share one mic, then go for it.
If you're going to have two hosts for your podcast, and both people will be in the same room, I recommend that each host have their own mic and record to their own track. If you're ok having both hosts share one mic, then go for it. But, again, I champion sound quality above everything else, and one of the best ways to ensure better sound is with individual mics and separate tracks.