We present an analysis of two pulsating subdwarf B stars PHL 457 and EQ Psc observed during the K2 mission. The K2 light curves of both stars show variation consistent with irradiation of a cooler companion by the hot subdwarf. They also show higher frequency oscillations consistent with pulsation. Using new spectroscopic data, we measured the radial velocity, effective temperature, surface gravity, and helium abundance of both hot subdwarfs as a function of orbital phase. We confirm the previously published spectroscopic orbit of PHL 457, and present the first spectroscopic orbit of EQ Psc. The orbital periods are 0.313 and 0.801 d, respectively. For EQ Psc, we find a strong correlation between Teff and orbital phase, due to contribution of light from the irradiated companion. We calculated amplitude spectra, identified significant pulsation frequencies, and searched for multiplets and asymptotic period spacings. By means of multiplets and period spacing, we identified the degrees of several pulsation modes in each star. The g-mode multiplets indicate subsynchronous core rotation with periods of 4.6 d (PHL 457) and 9.4 d (EQ Psc). We made spectral energy disctribution (SED) fits of PHL 457 and EQ Psc using available broad-band photometry and Gaia data. While the SED of PHL 457 shows no evidence of a cool companion, the SED for EQ Psc clearly shows an infrared (IR) access consistent with a secondary with a temperature of about 6800 K and a radius of 0.23 R☉. This is the first detection of an IR access in any sdB + dM binary.