I own an older Schwinn exercise bike that has pedals with wide straps across the top to help keep your feet on the pedals. They work well but I am wanting to replace them with a spare set of Shimano road pedals that I have laying around. The problem that I have run into is that the diameter of the Shimano pedals (9/16" x 20 tpi) is larger than hole in the crank arm.

The way I see it, to swap out the pedals I have 4 options.
Drill and retap the holes (1 CW and 1 CCW).
Replace the crank assembly.
Find a pedal with the smaller diameter shaft.
Live with it the way that it is.

I need to learn to search better. The older is 1/2"x20tpi

http://www.bikeforums.net/archive/in...p/t-28349.html