Just my opinion, if you can go 35 minutes on a bike 5 days a week, you're not doing it intense enough.

As for people saying cardio burns muscle, I've never heard that. Me personally, I'm an athlete, I'd never go without cardio. I do cardio about 4 times a week, and I've not only gained a lot of lean muscle, but I've lost a major amount of bodyfat.

Up the intensity, and if you want to lower BF%, GET A JUMP ROPE AND GET GOOD AT IT!