If both of your parents are U.S. citizens when you are born in another country, you are a citizen at birth who can run for President someday. If only one parent is a U.S. citizen, and you are born outside U.S. territory, you are a citizen at birth, but cannot become President or Vice President.
Cruz has one U.S. citizen parent, and was born in Canada. He enjoys dual citizenship, qualifies to be a U.S. Senator, but by not also being born in U.S. territory, he is barred from the Presidency, and the Vice Presidency. I hate Cruz, but I think the rule is stupid and antiquated. I also don't care for da Ahnold, but he is a loyal naturalized citizen, and should be able to run for Prez, too.
However, I am oh so looking forward to the rage and derpery when Cruz' disqualification becomes known, because Guess Who is gonna be screaming louder than anyone? Every fuckwit who tried to wish away the fact that Obama was born in Hawaii and is totally a citizen enough to be President.