Cruise confirmed the planned sequel during an appearance on The Graham Norton show, reported Digital Spy.
He replied when asked about the series: "I am working on the story." However, he declined to give any more details.
Cruise had said in October that he would be keen to make another 'Mission: Impossible' film.
"I started Mission: Impossible hoping I could make many of them. It's a character that I can grow with. At that time it was the most expensive film in the history of Paramount Pictures, and the first film I was producing.
The actor also said that he "still felt good" about doing action roles, despite turning 50 last year.
The last 'Mission: Impossible - Ghost Protocol' released in 2011.
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