The Sun says Cole believes the former pals can still play together - even though Ferdinand has fallen out with him over his support for Blues skipper John Terry.
He is sure his strained relationship with Ferdinand could be overcome if that was considered a stumbling block.
Cole appeared for Terry's defence when he was cleared in court of racially abusing Rio's brother Anton.
Then Ferdinand was fined £45,000 by the FA for re-tweeting a comment which described Cole as a 'choc ice' - a term claimed to mean white on the inside, black on the outside.
Cole wants to put the issue behind them, although he is again speaking up for Terry at his FA hearing this week.