Deadline Hollywood is reporting that Tom Cruise will in fact be returning in the role of Ethan Hunt in the upcoming “Mission: Impossible IV” movie.

Cruise will also produce the film with “Mission: Impossible III” director J.J. Abrams. “Tom and J.J. are great talents and we are excited to be working with them to re-launch this legendary franchise,” Paramount Pictures Chairman & CEO Brad Grey said in a statement on Tuesday.

No director has been chosen for the film which is being written by “Alias” scribes Josh Appelbaum and Andre Nemec. “Mission: Impossible IV” will be Cruise’s next film and is set to begin shooting sometime this summer for a release on Memorial Day weekend 2011, where is will go up against comedy “The Hangover 2”.

The “Mission Impossible” films have grossed over $1.4 bllion worldwide since the first film was released in 1996.