However, in what appeared to be a stay of execution for the Business Secretary, Mr Cameron told the BBC that his Cabinet was one with several "big beasts" in it. He also mentioned Ken Clarke, the Justice Secretary, who has been under fire for his policy direction.
His comments came as Mr Cable continued to attack the Prime Minister over the Alternative Vote.
Mr Cable taunted Mr Cameron over his support for the first-past-the-post system of electing governments, saying that, if the Conservatives had used it for their leadership elections, David Davis would be prime minister.
Speaking alongside Ed Miliband at a Yes to AV event, he pointed out that Mr Cameron would have failed to win a straight one-round contest with Mr Davis in the Conservative leadership election of 2005. Mr Cameron eventually prevailed after the other candidates were eliminated, round by round.
Mr Cable said: "If they had their choice of leader determined by first-past-the-post rather than an alternative vote system, I would now be conducting my amicable, businesslike coalition discussions on immigration with Mr David Davis."
He said that he did not regret attacking the "very unwise" speech in which the Prime Minister said Britain needed "good immigration, not mass immigration".
Mr Cable also appeared to admit that the Prime Minister could sack him in a reshuffle later this year, but boasted that he could easily double his £135,000 a year salary from the back benches.
Mr Cameron resisted the temptation to hit back and said he did not want to personalise the battle between the Yes and No to AV camps.
But he admitted that very few people had any idea that a crucial referendum that could "damage democracy" was about to take place.
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