Ablett and Kennedy were two of almost 39,000 people who liked Folau's controversial homophobic post which said gay people are going to hell unless they repent.
Earlier on Monday, Cheika told reporters Folau's "disrespectful" comments would now make it impossible to pick the superstar for this year's Rugby World Cup.
He has been given 48 hours to accept the sanction or have the matter referred to a Code of Conduct hearing.
"It's obviously a decision that's in the process right now but I believe in a God that's in control of all things", Folau told the Sydney Morning Herald newspaper at a Truth Of Jesus Christ Church service, in his first comments since the scandal exploded.
Cheika emphasised the importance of the team but also said "everybody has the right to believe (in what they want) and we respect that right".More news: NYC health department threatens to close Brooklyn yeshivas over unvaccinated students
"When you play in the gold jersey, we're representing everyone in Australia - everyone that's out there supporting us. We don't pick and choose", Cheika said.
Wallabies captain Michael Hooper was also asked if he would be comfortable playing with Folau again.
Chief Executive of Rugby Australia, Raelene Castle said: "At its core, this is an issue of the responsibilities an employee owes to their employer and the commitments they make to their employer to abide by their employer's policies and procedures and adhere to their employer's values".
He then added: 'I'll stand on what the Bible says.
When asked if the fallout has made him reconsider his comments, Folau replied: "Absolutely not".More news: Lori Loughlin and husband plead not guilty in college admissions case
"You take your friends warts and all, and your teammates, ' Hooper said".
The club's director of rugby Mark McCall said "I'm sure there's stuff going on in his head" but will pick him for Saturday's European semi-final against Munster at Allianz Park.
"But inside of our environment, which is a footy environment, that's authentically looking at what we do, which is trying to go out and play the best footy we can every week and compete in sport, so everyone can enjoy it, understands that when you're playing as a team there's nothing better to watch".
Speaking after a sermon that reportedly offered the under-fire star support, calling him persecuted for his beliefs several times, Folau said his faith outweighed his desire to keep his position on the national team or for the Waratahs.
RA and NSW Rugby had on Thursday night said Castle had been unable to "directly contact" Folau to advise him of her intention to terminate his $4 million four- year contract. "If that's not to continue on playing, so be it", he said. "But my faith in Jesus Christ is what comes first".
"I share it with love", he said. I can see the other side of the coin where people's reactions are the total opposite to how I'm sharing it.More news: Here's the first trailer for season two of Big Little Lies
Folau indicated he was unlikely to legally challenge his termination, though some legal experts believe he would have a strongcase if he asserted his right to freely express his beliefs.