Cut the wires, recable it with something better, problem solved.
Detail: if you heat the wire at an edge where you cut it and apply some solder onto it using a hot tip(around 400C seems fine), the entire protective layer that isolates the wires will start "boiling" and will evaporate or mix with the solder. Remove the solder with the soldering tip, add new solder. Now reduce the temperature of the tip, say 330C, remove the solder again, add solder again one last time then remove the most of it, only leave a bit of it on the wire for you need it when soldering the new wires. If the wires still don't look good, add and remove more solder. Also be careful, depending on what wires the cable uses 400C might be a bit too much. Experiment, in the end you've got lots of crap cable to play with.
If you want really good long lasting cables, already built, you'll do nothing wrong by getting some replacement cables for Sennheiser IE-8. Google "ie8 replacement cable". Just cut and solder them with your cable near the drivers.