'Iron Man 3' Writer Drew Pearce to Pen Next 'Mission: Impossible' (Exclusive)

Getty Images
Drew Pearce

Tom Cruise will star in and produce "Mi5" and is expected to shoot the movie in the fall after filming Warner Bros.' "The Man From U.N.C.L.E."

Iron Man 3 co-writer Drew Pearce has landed the assignment for Paramount's next Mission: Impossible installment.

Tom Cruise will star in and produce Mi5 and is expected to shoot the movie in the fall after filming Warner Bros.' The Man From U.N.C.L.E.

PHOTOS: 'Iron Man 3' Premiere: Robert Downey Jr. Mingles With Marvel Royalty

Christopher McQuarrie is in discussions to direct the film, which is also being produced by J.J. Abrams’ Bad Robot. Skydance Productions, which served as co-financiers and executive producers of the fourth installment, will work closely with the team in the development and production process.

Plot details are being kept under wraps.

Mission: Impossible -- Ghost Protocol -- the fourth installment in the franchise, which was first introduced in 1996 -- earned nearly $700 million worldwide and marked Cruise’s highest-grossing film to date. The franchise has earned more than $2 billion, one of the most successful franchises in movie history.

PHOTOS: Iron Man on Screen: From '60s Cartoon Star to 'Avengers' Blockbuster

Pearce is becoming a go-to writer for studio action tentpoles and among his credits is Guillermo del Toro's upcoming Pacific Rim. The scribe is currently working on an original spec that will serve as his directorial debut. Mary Parent, who is a producer on Pac Rim, is attached to produce the project, which is not yet set up.

Pearce is repped by WME, PBJ Management and attorney Warren Dern.

Email: Tatiana.Siegel@THR.com, Borys.Kit@THR.com; Twitter: @TatianaSiegel27, @Borys_Kit@THR.com