We present a combined experimental and theoretical study of the elementary magnetic excitations in Ba2YIrO6 and Sr2YIrO6 - the two most intensively discussed candidates for a new type of magnetic instability caused by exciton condensation. For both materials, high-resolution resonant inelastic x-ray scattering (RIXS) at the Ir L3 edge reveals sharp excitations around 370 and 650 meV energy loss, which we identify as triplet and quintet spin-orbit excitons. While the momentum-dependent RIXS spectra reveal that both the triplet and the quintet propagate coherently within the nonmagnetic background of the singlet sites, these modes remain fully gapped. The Ir-Ir exchange interactions in both double perovskites are therefore not strong enough to overcome the magnetic gap and, hence, our results exclude an intrinsic magnetic instability due to a condensation of magnetic excitations for both Ba2YIrO6 and Sr2YIrO6.