Biju (40) and his wife Ponni (30), both natives of Perambara in the district, were on a picnic to Thamarassery along with the former's friend, police said.
Biju's friend called out for help when he saw them drowning.
The local people managed to bring them out of the water but doctors at the Thamarassery taluk hospital declared them brought dead, police said.
The bodies have been removed to the Kozhikode Medical College Hospital where post-mortem will be done tomorrow, they added.