Paramount Pictures has announced that it will release the upcoming action sequel Mission: Impossible 5 in theaters December 25, 2015. The last entry in this long-running franchise, Mission: Impossible Ghost Protocol, which earned more than $700 million worldwide, opened just a few days before Christmas in 2011.

As of right now, the movie's only direct competition is Warner Bros.' Live by Night, the adaptation of Dennis Lehane's novel that Ben Affleck is starring in and directing. However, it will debut just one week after the highly-anticipated Star Wars: Episode VII, with Warcraft also opening on December 18, 2015 and Kung Fu Panda 3 debuting on December 23, 2015.

Tom Cruise is producing and returning as IMF agent Ethan Hunt. Christopher McQuarrie (Jack Reacher) is directing from a script by Drew Pearce (Iron Man 3). We reported last month that production will start this February in London.

Related: Mission: Impossible 6 Wins the Weekend Box Office with $61.5M

It's worth noting that J.J. Abrams is also producing Mission: Impossible 5, while directing Star Wars: Episode VII in the same time frame. However, since both productions will be shot in London, it's possible (although improbable) that he could work on both projects at the same time.

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