Masonry bits are carbide tipped and come in several sizes, not only 1/8 inch. If you are drilling the stud out and tapping it, you will want to use a 1/4 bit or .272" bit. 1/4" is the most common. If you use a carbide tipped bit you will want to work slowely. If you don't you will burn the carbide off the tip. Start with a smaller bit to get started. Then gradually go up in size. I have never used masonry bits when drilling out a stud and easy out before...
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97 Viper GTS
03 Mercedes CLK500 rollin on dubs...
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