The futures of Aston and Coventry stations were discussed by West Midlands Fire and Rescue Authority.
The authority, which said it needed buildings for a "modern-day" fire service, approved its budget earlier.
Plans to demolish Aston's Ettington Road fire station, which was built in 1923, will go before planners.
Phil Hales, deputy chief officer of West Midlands Fire Service, said Aston residents would be consulted as part of the planning process.
The authority says that Coventry's Radford Road station, which was built in 1976, is expensive to run and maintain.
A new station at Aston could cost around Â£7.5m, while the Coventry scheme could cost an estimated Â£6.7m.
English Heritage has said it expected to be consulted on the proposal to demolish Aston fire station if the plan was put forward.
"Aston fire station was listed at Grade II in 2010 and recognised as a carefully-designed building which works well with its surroundings and is a powerful symbol of civic pride," a spokesperson said.
Plans to demolish and replace two West Midlands fire stations - one of which is Grade II listed - have been backed by fire service bosses.