J.J. Abrams is all set to release the fifth instalment of "Mission Impossible" on Christmas Day 2015.

Abrams' last venture from the "MI" franchise was a treat. "Mission: Impossible - Ghost Protocol" was a remarkable effort as very few predicted that it would be a fine movie. The reason for being, five years had passed since Abrams released "Mission: Impossible III" (lowest-grossing movie from the franchise) and Tom Cruise's hold as an action star had started to fade.

However, "Ghost Protocol" worked in favor of Cruise and gave his fading luster a brand new shine. Now, the world is ready for the fifth instalment featuring Ethan Hunt jumping around high buildings and more.

Paramount has announced "Mission: Impossible 5" for release on Dec. 25, 2015. The movie will hit the theaters after four years "Ghost Protocol" released. Writer-Director Christopher McQuarrie is the man handling everything this time. The screenplay is written by Drew Pearce who was the co-writer of "Iron Man 3."

Paramount has not announced the entire cast who will join Cruise in this new thriller. The casting update will be out soon as the production starts in London by February 2014.

Ethan Hunt's team might not have Jeremy Renner or Paula Patton this time. Renner will be busy filming "The Avengers: Age of Ultron."

"Mission: Impossible 5" will face strong competition at the theaters with "Star Wars: Episode VII" and "Warcraft." Also, "Kung Fu Panda 3" hits the scene two days before "Mission: Impossible 5." The movie faces direct competition from "Live By Night" by Ben Affleck.

Other new release dates announced are "Kitchen Sink" for January 2015. "Beware the Night" from Screen Gems camp will release in summer 2014 instead of January 2015. "Dracula Untold" will release around October 2014.

Are you psyched about "Mission: Impossible 5?" Stay tune for more updates about the cast, crew and storyline.