Speculations are rife that "Iron Man 4" can happen very soon. According to reports by Enstarz "Iron Man 3" writer Drew Pearce will now have more time to focus on "Iron Man 4." Apparently, Pearce was previously roped in to write "Mission Impossible 5." However, now the reports suggest that Will Staples will be working on the Mission Impossible sequel.

According to Hollywood Reporter, "Paramount, Skydance and Tom Cruise have roped in Will Staples to work on the script for the fifth Mission: Impossible."

Christopher McQuarrie is all set to direct the film and the film will be hitting the theaters on Dec 25, 2015.

If "Iron Man 4" goes on floor then Robert Downey Jr. may not come back as Iron Man. Reportedly, there could be a new actor who may play the part of Iron man in the "Iron Man" sequel.

"The smart money is you have to look at everybody's age," Downey, Jr. said regarding the possibility of new actor to The Edge. "I'll put myself at the top of the list. Sooner or later, they've got to start over and get somebody young. I'm not there with them yet.

"It really is the closest thing to being a beloved contract player with a big old-timey studio that there is right now," the actor added. "When you really think about it at the end of the day, these films are entertainment largely driven by young folks. There is something very honorable about that."

Meanwhile, "Mission Impossible 5" will cast Tom Cruise, Jeremy Renner, Paula Patton in lead.

Staples who is now scripting the 5th version of the film has previously worked in video game world and is known for his work in "Pursuit Force," "Lair," "Call of Duty: Modern Warfare 3" and the upcoming "Need for Speed: Rivals".