The actor, who is married to former Dawson's Creek star Katie Holmes, is said to have made peace with Sumner Redstone, the CEO of Viacom, after falling out when Redstone made the decision to drop Cruise's production company, United Artists Studio, from Paramount Pictures.

Waiting on the green-light

The pair were spotted at the Beverly Hills Hotel last month discussing plans for Cruise to star in the fourth film in the successful franchise.

A source said: "Tom will make Mission Impossible: 4 once Paramount green-lights the script. There will most definitely be another Mission: Impossible!"

Cruise's United Artists Studio, which he runs with production partner Paula Wagner was responsible for last year's political thriller Lions for Lambs, starring Cruise, Meryl Streep and Robert Redford.

Cruise can next be seen in the comedy Tropic Thunder alongside Robert Downey Jr and Owen Wilson, and the highly controversial war drama Valkyrie.