Your options might depend on a number of things including the existing cable route, where your new driveway is going and how much slack there is in the existing cable.
You could possibly bury the cable under the new drive but this would be best done by placing the cable in flexible conduit leaving access at each end for future maintenance of the cable.
If there is enough slack the cable could be clipped to a wall and rerouted. The cable is external grade and can be exposed to the elements with no problems.
The cable might be joined and extended or the cable might be replaced.
Possibly getting the cable rerouted in advance of your driveway work may be the best option as the two tasks can be done independently of each other and there might be less likelihood of the cable being damaged if it is out of the way of the driveway work.
