Spun a cab mounting nut

[Mattchu60]

Im looking for ideas on how to fix this. I the cab mounting caged nut break loose when removing the bolt. I was able to get the bolt out by using a hole saw to cut a hole above the nut so I could hold it still.

Now I need to fix it - figure my options are:

- 1) remove the caged nut and replace with a 1/2" nut welded to a piece of 1/4" steel plate.
- 2) leave the nut in place, wedge some steel plate between the crossmember wall and the nut to hold it in place.

Anyone done this before?