MTV Movie Blogs recently caught up with George Lucas at the press day for Star Wars: The Clone Wars, and they of course asked him about the proposed Indiana Jones 5 sequel, which was originally supposed to center around Shia LaBeouf's Mutt Williams character.
As of this moment, the famed director is thinking in another direction. It seems that Mutt won't be the central focus of a fifth film at all, and he might not even return for a cameo in the proposed film. Lucas told MTV Movie Blogs, "Indiana Jones is Indiana Jones. Harrison Ford IS Indiana Jones. If it was Mutt Williams it would be 'Mutt Williams and the Search for Elvis' or something."
About the next installment, Lucas would only say, "We ARE looking for something for him to go after. They are very hard to find. It's like archeology. It takes a huge amount of research to come up with something that will fit."
At this time, Indiana Jones Part 5 is merely an idea swimming around inside George Lucas' head. There is no telling if it will ever come to fruition.
Dont't forget to also check out: Indiana Jones and the Kingdom of the Crystal Skull