Tom Cruise is likely to film a Top Gun sequel before Mission: Impossible 5.

The iconic actor is reportedly close to signing a deal to appear in a follow-up to the 1986 movie about an elite flying school for fighter pilots with Paramount, and the studio's president Adam Goodman has confirmed wheels are in motion to create the film.

"We'll likely make a Top Gun sequel with Tom Cruise before the next Mission: Impossible. Jerry Bruckheimer will produce with Tony Scott returning to direct. All parties are moving ahead. We've hired Peter Craig to write the script," he told The Hollywood Reporter.

Speaking about the film previously, Tom confirmed it would have a similar "tone" to the first installment, but would not give away any details about the storyline: "We're working on it. I hope we can figure this out to go do it again. If we can find a story that we all want to do, we all want to make a film that is in the same kind of tone as the other one and shoot it in the same way we shot Top Gun."