Neither player was in uniform on the Miami bench.
Before the game, Heat coach Erik Spoelstra said Wade, who has a sore left foot, was "a little bit more unlikely" than James to play. Wade missed his second straight game after sitting out Wednesday night's 118-83 win over Indiana. He hurt his foot at Charlotte on Dec. 28.
James turned his left ankle late in the third quarter of Wednesday night's game. He appeared to step on the foot of Indiana's Paul George while attempting a fast-break layup. He still finished with 33 points and 13 assists.
"We're weighing everything: the schedule ahead, rest, how much treatment we can do," Spoelstra said.
"Thankfully, these aren't debilitating injuries."
Hawks coach Larry Drew said guard Tracy McGrady's status was uncertain due to a bruised knee.