Against all the odds the Trotters held on to the seven-capped international in August after a deal to join Tottenham collapsed on deadline day, while Chelsea have also emerged as contenders to sign the centre-back, allowing him to partner John Terry for club and country.
Coyle told reporters: "I would love to work with Gary Cahill every day of the week for as long as I could because he's a top player and a fantastic young man.
"Sometimes things are taken out of your grasp. I'll wait and see what January brings."
Cahill signed for Bolton from Aston Villa for around £5 million in January 2008 and he has since gone on to establish himself as a regular in the England squad.
Coyle added: "Gary Cahill's a top-class player and he'll continue to get better.
"The other night [against Sweden] it looked such an assured performance, himself and John Terry looked a very good partnership, as they did in the last qualifying games.
"This augers well for Gary, for Bolton and for England."
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