I put a 2 3/16" hole in a 6 1/4" tube for mine, using a hole saw, use as slow a speed as possible make sure it is fastened down well. The other thing I did was to replace the drill with a solid bar as a guide once I had drlled the pilot hole. I used WD40 as a cutting lubricant. If the arbor for the hole saw has 2 pegs that go in the top of the hole saw like mine had, I left them retracted so that the hole saw screws up against the arbor, I found this stops it wobbling about.
David