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It’s funny, Mission: Impossible: III showed Tom Cruise – then considered weak because of the Oprah situation and his beliefs – on the precipice of stardom, and likely to fall off. Whereas the sequel Mission : Impossible – Ghost Protocol saw him back on top at age 50. Time heals all, we guess. Now they’re making Mission: Impossible 5, and Christopher McQuarrie will direct.

Collider was the first we saw who jumped on this, but McQuarrie tweeted something today that reads as a confirmation:

 

 

That sounds like he took the job, but McQuarrie has been the rumored director of this project since it was announced. It also seems to suggest that Jack Reacher 2 has been back-burnered, or will never happen, as Jack Reacher was also a McQuarrie and Cruise film. The two first worked together on 2007′s Valkyrie, which was directed by Bryan Singer,  and ever since Cruise has turned to Mcquarrie often for his scripts. The duo did Reacher, but also McQuarrie is a credited writer on Cruise’s upcoming film All You Need is Kill Edge of Tomorrow, while Cruise revealed that McQuarrie did some uncredited work on the last Mission: Impossible. So it’s possible that McQuarrie has also done polishes on stuff like Oblivion.

McQuarrie proved himself with the Oscar-winning script for The Usual Suspects, and had a great directorial debut in 2000 with The Way of the Gun. But, as that film bombed, his career floundered. Working with Tom Cruise has been great for him, and now he’ll get to make a $200 Million dollar action film with M:I 5. Drew Pearce, co-writer of Iron Man 3, is currently working on the script.

Update: Check out the official press release!

HOLLYWOOD, CA (August 5, 2013) – Paramount Pictures and Skydance Productions announced today that Christopher McQuarrie will direct the next “MISSION: IMPOSSIBLE” film.

McQuarrie will direct from a screenplay by Drew Pearce, with Tom Cruise reprising the iconic role of Ethan Hunt, who was first introduced to moviegoers in 1996.  The project will be produced by Cruise through Tom Cruise Productions, Paramount and J.J. Abrams’ Bad Robot, who served as producers on previous films in the hit series.  Skydance Productions, who served as co-financers and executive producers of the last installment, will work closely with the team in the development and production process.

“I am thrilled to reunite with Chris for the latest installment in the Mission series,” said Cruise. “I began producing the films with the goal that a different director with his own vision would make each one.  Chris is an extraordinary filmmaker who will deliver the heart-pounding action and thrills that audiences around the world have come to expect from the Mission: Impossible franchise.”

Added Adam Goodman, President of Paramount Film Group: “The Mission series is special for its signature directors; Chris McQuarrie keeps this tradition thriving.”

McQuarrie recently wrote and directed “JACK REACHER” for Paramount and Skydance, with Cruise in the title role, based on the novels by New York Times bestselling author Lee Child.  His screenwriting credits include the upcoming “EDGE OF TOMORROW” and 2008’s “VALKYRIE,” both starring Cruise, as well as “THE USUAL SUSPECTS,” for which he earned an Academy Award® for best screenplay in 1995.

“MISSION: IMPOSSIBLE – GHOST PROTOCOL,” the 4th installment in the globally successful franchise, earned nearly $700M around the world and became Cruise’s highest grossing film to date in his storied career.

The “MISSION: IMPOSSIBLE” franchise has earned more than $2B at the worldwide box office, making it one of the most successful franchises in movie history.

Did Ghost Protocol get you excited for a M:I 5?