An Australian reporter and cameraman were held at gun-point and mugged of their $25,000 camera after a live cross from London.

Laurel Irving, who has been a reporter with the Seven Network for 10 years, had just finished her live cross on Sunrise at 7am (10pm local time) when she was approached by masked thieves on bikes who were armed with a gun.

Two men were wearing balaclavas and demanded the pair hand over their camera, which is valued at $25,000.

Laurel Irving moved to London to be the network’s Europe correspondent earlier this year. Picture: Facebook (Facebook)

At the time, Ms Irving was pre-recording material for a segment later in the day, while cameraman Jimmy Cannon was filming.

“I started talking into the camera and while that was happening one of them walked up to Jimmy, our cameraman, and started talking to him,” Ms Irving told 3AW .

“All of a sudden Jimmy took the camera off the tripod and that's when I stepped in and said, 'Hey, what's going on here?'

"I tried to grab the camera and Jimmy said, 'No, no, he's got a gun!' So I let it go and they took off on the bike."

Laurel Irving has been a reporter with the Seven Network for 10 years. Picture: Facebook (Facebook)

The robbers fled with the camera and Ms Irving snapped a photo of them.

Last month, Ms Irving who was originally based in Melbourne but moved to London to be the network’s Europe correspondent, covered Prince Harry and Meghan Markle’s royal wedding.