Unless this is 1 cent per phone they are talking about, it's a stupid idea. Last I gathered, the damages went down to under $100 million. If I were them I'd rather just pay that much if I lost the trial, than to pay them for the entire life of Android.
"Google proposed paying Oracle 0.5 percent of Android revenue on one patent until it expires this December and 0.015 percent on a second patent until it expires in April 2018."
It's only for six more years and 0.015% could very well be much less than $100M. In fact, it might be less than Oracle's legal fees.