Foreign Affairs Minister Julie Bishop has confirmed she will be a candidate if a second spill takes place tomorrow, throwing the Liberal party leadership into a three horse race.
SBS understands Ms Bishop will run in the event of a spill, as Malcolm Turnbull has promised to step aside.
Foreign Minister Julie Bishop.
AAP
Mr Turnbull said he plans to hold another partyroom meeting Friday to settle the leadership crisis, but only if he receives a petition signed by a majority of Liberal MPs asking him to do so.
He said it was also crtical that questions about his challenger Peter Dutton's elibility to sit in Parliament are resolved before another leadership ballot.
"You can imagine the consequences of having a Prime Minister whose actions and decisions are questionable because of the issue of eligibility."
Malcolm Turnbull spoke candidly with journalists about his political future.AAP
Morrison considering challenge
Treasurer Scott Morrison has reportedly entered the contest for the Liberal party leadership as senior ministers line up to quit Mr Turnbull's frontbench.
Mr Morrison emerged as a contender after key ministers Mathias Cormann, Michaelia Cash and Mitch Fifield deserted Mr Turnbull in a move that all but spelled the end of his prime ministership.
Former Home Affairs minister Peter Dutton has been gathering support for a second tilt at the leadership, SBS News understands the Treasurer is actively canvassing to see if he has enough support to run as an alternative candidate.
Senator Cormann said it was with "great sadness and a heavy heart" that the three advised the prime minister yesterday afternoon that he no longer had the support of the majority of the party room and offered to resign.
Ministers Michaelia Cash (left), Mathias Cormann (centre) and Mitch Fifield (right) have delivered a fatal blow to the PM's leadership.
Exodus continues
The three former allies of the Prime Minister join a growing list of ministers that have offered their resignation from the frontbench.
Mr Turnbull had tried to persuade ministers to continue in their roles even if they had backed his rival in Tuesday's ballot, but several are now determined to quit.
Health Minister Greg Hunt, who is likely to run as Peter Dutton's deputy in a second leadership ballot, is among the latest to go.
Trade Minister Steve Ciobo, Human Services Minister Michael Keenan and Citizenship Minister Alan Tudge have all been to see the prime minister to tell him they cannot to serve under him.
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Assistant Minister James McGrath, a former Turnbull loyalist, quit for the second time last night and insisted the Prime Minister accept his resignation.
"Like Peter Dutton has said, we must do everything in our power to stop Bill Shorten ever becoming Prime Minister," Senator McGrath posted on Facebook.
Michael Sukkar and Zed Seselja have also insisted the Prime Minister accept their resignations after declaring their support for his challenger Peter Dutton.
