Crossword Genius

Diversion - reversed on Hooky Street (7,8)

Ross

I believe the answer is:

outside interest

I'm a little stuck... Click here to teach me more about this clue!

'diversion reversed on hooky' is the definition.
I can't tell whether this definition defines the answer.

'street' is the wordplay.
I cannot really see how this works, but
an anagram of 'street' is 'terest' which is within the answer.
The remaining letters 'outsidein' is a valid word which might be clued in a way I don't see.
This may be the basis of the clue (or it may be nonsense).

Can you help me to learn more?

(Another definition for outside interest that I've seen is " hobby".)

I've seen this clue in The Independent.
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