The midfielder revealed earlier in June that it was his desire to join the Italian giants and Ausilio believes a deal could be made.
M'Vila had been heavily linked with a move to Arsenal in January 2013, but ultimately joined Rubin from Rennes for a reported fee of £10.5 million.
The France international has played 24 league matches for Rubin, but his days in Russia could be about to come to an end.
"M'Vila is an option," he told reporters. "We're in talks with Rubin. He's shown he'd be very happy to come to Inter and he's a guy who's displayed great desire and determination.
"If the money's right he could be an option."
A host of midfielders have been reported as potential targets for Inter, but after claiming there is "nothing in" rumours linking the club with a move for Barcelona's Alex Song, Ausilio also seemingly dismissed the notion of signing Mario Suarez from Atletico Madrid.
"I went there (Spain) but it wasn't necessarily linked to a certain team or situation," Ausilio added. "I had the chance to meet people there and did so.
"I wasn't able to in Milan and so we preferred to meet them there as it was more convenient.
"Is it a difficult deal? With regards to Mario Suarez, it's my understanding that he's not for sale.
"Talking about footballers whose clubs haven't put on the market is like talking about nothing.
"He's a player that we might be interested in because of the position he plays but it's not feasible as Atletico Madrid have never placed him on the transfer list."
Ausilio also revealed that Manchester City's Stevan Jovetic would be an unrealistic target, having only signed for the Premier League champions in 2013.
"As far as I'm aware he's not available. He's a Manchester City player, they bought him last year, paid a lot of money and have no intention of selling him," Ausilio concluded.
