Irving police say the wrecked car, in the apparent traffic accident, was located Wednesday afternoon. Maintenance personnel noticed a broken guard rail along the Las Colinas Canal.
Officer Steve Burres says speed may have been a factor in the crash. Police say the Porsche appears to have gone down an embankment before ending up in the canal.
Names of the two people who died were not immediately released. Authorities also trying to determine when the car went into the canal.
