Simon Pegg (Paul, Shaun of the Dead) is reportedly in negotiations to reprise his role as the lab geek, Benji Dunn in the next installment of Paramount’s Mission: Impossible franchise, Mission: Impossible IV. Tom Cruise will return as Ethan Hunt and will produce Mission: Impossible IV alongside Paula Wagner and Mission: Impossible 3 director J.J. Abrams, who worked on the story for the latest installment with screenwriters André Nemec and Josh Appelbaum.

THR reports that the film has yet to receive a greenlight, but director Brad Bird (The Incredibles) is planning is for an early September shoot and has been meeting with actors this week.

Mission: Impossible IV is slated to hit theaters on December 16th, 2011.