Compromise! LoL - You can't have it all.
Seriously though, do you really need to have that precision? Can you explain what you are doing and why that precision is needed? Double precision math is usually used for numerical modeling on full computers. Single precision math gives 23 bits of precision which is enough for demanding audio applications and complete overkill for system control and/or measurements. Do you realize that double precision floats give 52 bits or precision?
If single precision floats are not good enough, then 32 bit integer math can give an improvement (8 more bits!), even if it's more work to implement. Many people don't realize that 32 bit integers are more precise than single precision floats; even if the fixed point representation has some drawbacks.