In recent years, Internet of Things (IoT) and Cloud Computing are the hottest issues of Future Internet. However, there is a lack of common fabric for integrating IoT and Cloud. In telecommunications, the IMS (IP Multimedia Subsystem), based on the All-IP and Open Services Architecture, has been regarded as the trend for Next Generation Network (NGN). The IMS communication platform is the most suitable fabric for integrating IoT and Cloud. This paper focuses on different aspects including Cloud Service Framework, Data Sensing and Communication Technology, Collaborative Authentication and Privacy Protection Mechanism, Operation, Administration, and Maintenance (OA&M), Mobility and Energy-Saving Management, and Application Services. This paper not only provides the discussion of open challenges, but also proposes a possible solution based on the above-mentioned aspects for Future Internet.