According to The Hollywood Reporter, Mission: Impossible 3 is getting closer to accomplishing its mission, signing Laurence Fishburne and Philip Seymour Hoffman to the Paramount Pictures project. Rhames and Cruise are the only holdovers from the original cast assembled to shoot M:I-3 when it was scheduled to film last year. That cast also included Carrie-Anne Moss, Kenneth Branagh and Scarlett Johansson.

Paramount recently greenlit Mission: Impossible 3, produced by Tom Cruise and Paula Wagner, after cutting the budget to about $150 million and revising Cruise's gross participation deal. J.J. Abrams is directing.

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Fishburne will play Cruise's mentor; Hoffman will play the villain. They join Tom Cruise, Michelle Monaghan, Ving Rhames, Jonathan Rhys Meyers and Keri Russell.

J.J. Abrams is set to direct the film which starts shooting in Italy next month.