Gayle begins by saying Stedman misunderstood the question posed by the L.A. Times and only meant that she'd make a good president. Gayle's co-host, Norah O'Donnell, zeroed in with a true statement -- Stedman's answer was "She would absolutely do it."

The clip is interesting ... Gayle says she talked to her best bud for a long time Monday night, and it sounds like Oprah had her locked and loaded for a spin.

At the very least ... it's clear Oprah's now noodling the idea.