WI: Mussolini sides with the Allies in mid-WWII?

On July 19, 1943, Hitler summoned Mussolini to a meeting in Northern Italy to discuss the war. Reportedly, Mussolini was so shaken by stress that he could no longer stand Hitler's boasting. What if at this point, Mussolini decided that it was no longer worth supporting Hiter?

Could he have sought a seperate peace with the Allies in exchange for keeping him in charge of post-war Italy?
 
At that point Mussolini would be a dead man, I highly doubt he be able to keep power. the only way you can Mussolini realistically be on the Allies is if he has a reason to join and Allies aren't a obstacle or get in the way of his goal of a new Roman Empire, all prior to the war mind you. Even if this scenario does happen how is Mussolini ensured that Hitler doesn't just capture and kill him, considering he could invade Italy, and the allied invasion wouldn't happen for nearly 2 months.
 
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