Production of Mission Impossible 5 is well underway at Paramount, and we now know more about who will be joining the cast for this installment.

According to Variety, Alec Baldwin is in negotiations to join the film. Though the plot of the movie is still under wraps, Variety reports that Baldwin would be playing a CIA officer overseeing Ethan Hunt's mission, similar to the character played by Laurence Fishburne in Mission Impossible 3.

The film has also cast Rebecca Ferguson as its new female lead, according to Deadline. Ferguson is known mainly for her role as Queen Elizabeth in the BBC's The White Queen, for which she received a Golden Globe nomination.

Mission Impossible 5 will be directed by Chris McQuarrie, director of another Tom Cruise film Jack Reacher, and written by Iron Man 3 writer Drew Pearce. It will also star Tom Cruise, Jeremy Renner and Simon Pegg.

Mission Impossible 5 will be the followup to Ghost Protocol, currently the biggest box office success of Tom Cruise's career. It is expected to release Christmas 2015, just one week after J.J Abrams' Star Wars Episode VII.

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