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.'
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.
'It's been pretty exciting. Seeing an audience respond… to have that experience is really wonderful. I'll make a bunch of those. I'll make as many as people want to see... because they're very challenging, and so much fun to make,' he had said.
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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