Tom Cruise returns for 'Mission: Impossible IV'

J.J. Abrams and Tom Cruise both already talked about the possibility of a "Mission Impossible IV" film, and now Paramount Pictures has confirmed it is moving forward on the sequel. They even have a release date!

Studio says the film will open in theaters Memorial Day weekend in 2011. Cruise and Abrams will produce the film along with Abrams' Bad Robot Prods. Josh Applebaum and Andre Nemec are writing the script.

“Tom and J.J. are great talents and we are excited to be working with them to re-launch this legendary franchise,” said Brad Grey, chairman of Paramount Pictures. The search for a director is now in progress.

Abrams directed Cruise in "Mission: Impossible III," which earned $395 million worldwide. Abrams last helmed "Star Trek," and as for Cruise, he will soon be seen in "Knight and Day" alongside Cameron Diaz.

So, who's excited about this?