It's looking like Jack Reacher director Christopher McQuarrie is going to team back up with Tom Cruise for Mission: Impossible 5. The movie is in the early stages of development, and last month Crusie himself said they were already working on different images for the film and talking about it conceptually.
Both Cruise and J.J. Abrams want McQuarrie to take on the fifth film. McQuarrie has also directed The Way of the Gun, and has written a ton of films such as The Wolverine, All You Need is Kill, Jack the Giant Slayer, The Usual Suspects, Valkyrie and more. He seems like a talented guy. I like what I've seen from Jack Reacher so far, but didn't really care for The Way of the Gun.
Paramount Pictures likes what he's done with Jack Reacher, and Cruise likes working with him. The studio is looking to get this movie on the fast track to production, so I guess we can expect to see Mission: Impossible 5 within the next 2 years.
I loved Brad Bird's Mission: Impossible movie, but I didn't expect him to return for a sequel. It will be interesting to see what McQuarrie does with the franchise.