With the success of Star Trek it looks like J.J. Abrams will be kept busy over the next few years with the sequels (if he wasn’t already busy enough with Lost, Fringe and a bunch of other stuff) but that hasn’t stopped him from joining even more projects. Spoiler TV scanned a magazine article which quoted Abrams as saying:

“I am incredibly honored that Tom (Cruise) has invited me back as a producer on Mission Impossible 4. says Abrams. “Tom and I have come up with a really cool idea we are pursuing.”

[Source] SpoilerTV