David Cameron said it was for the Liberal Democrats "to decide for themselves" whether Nick Clegg should remain leader following a poor showing in the local and European elections.
The Prime Minister declined to comment on how the coalition government would function if Mr Clegg was removed as head of the party, but said its "work will continue".
Cable said he had no knowledge of the 'reprehensible' polls leaked by Lord Oakeshott on Nick Clegg's leadership.
The Liberal Democrat peer is taking a leave of absence from the Lords and resigning from the party, but is he the 'busted flush' some think?
Read the full statement from Lord Oakeshott on why he is resigning from the Liberal Democrats.