Updated March 22, 2017: Michael Shannon is the 20th Century Fox's leading candidate to play Cable in the planned Deadpool sequel, according to The Hollywood Reporter. The Hollywood trade says that Stranger Things' David Harbour is still in contention for the role as well.
Shannon's potential involvement was first reported earlier this month, but at the time he was said to be unavailable due to other commitments. Deadpool 2 is reportedly scheduled to begin shooting this summer in Vancouver. Shannon is currently filming What They Had in Chicago.
Original Story: Michael Shannon was in talks at one point for the role of Cable in 20th Century Fox's Deadpool sequel, according to Collider. There's no word on how serious the conversations were for Man of Steel's Zod to play Cable, but the site goes on to say that Shannon is out of contention now due to scheduling issues.
The as-yet-untitled Deadpool sequel has not been scheduled for release yet.