J.J. Abrams to Produce Mission: Impossible 4

It looks like Mission: Impossible 4 is more than just a rumor.

Not only will Tom Cruise star in the movie, but J.J. Abrams told TV Guide that he'll produce the fourth movie in the action franchise.

"I am incredibly honored that Tom has invited me back as a producer on Mission: Impossible 4," said Abrams, who directed 2006's Mission: Impossible III. "Tom and I have come up with a really cool idea we are pursuing," he added.

The third installment cost about $150 million to make and earned $397.8 million worldwide.

Abrams, of course, directed the latest Star Trek movie and has produced TV shows such as Lost and Fringe.