Mission Impossible is set for a fourth installment, with 47 year old Tom Cruise filling in as Ethan Hunt once more.  J.J. Abrams, who directed the third MI film, has provided the makers of the fourth a plot, but will not return to direct. 

Mission Impossible III grossed 397.8 million dollars worldwide, which implies that the franchise may still have legs. 

The filmmakers are aiming for a Memorial Day 2011 release.