Can a relationship servive when both people have cheated?

My boyfriend and I have been off again on again for over a year. He just informed me he had cheated with a friend of mine and then I confessed that I have cheated on him too. I'm really not mad about the cheating part other than it was with a good friend, well what I thought was a good friend. He wantst to stay together and try to work this out and I think, was the love really there in the first place. Can we survive??