Do you have a diverter? If yes, cable worn or stretched. If no diverter, nylon bushings on the pins wore out or the larger ring bushing could use a couple rubber bands as spacers/replace it.  Minimal play with new bushings and about 1/4 inch of play on a new cable.

Since youre going to pull it get the two nylon and the nossle o ring. Should have a bolt on one side. Remove the bolt and then tap the pin in till its free or falls. The pin is held in by the bolt and is cushened by the nylon spacer. I replaced mine last year and put a tad of red grease on the pins during install.  I used a rubber band under the nossle o ring  without grease. My c bowl has some light wear and the rubber band helped for a solid fit.  This would be for a berk...I would call to make sure you get the right one for your pump.
http://www.jetboatperformance.biz/pages/o_rings.html
http://www.cpperformance.com/c-666-model-12jc-parts.aspx
http://www.cpperformance.com/p-504-nyliner-bearing.aspx