“Mission: Impossible 5” officially has a release date set for December 25, 2015. Tom Cruise will team up with “Jack Reacher” helmer Christopher McQuarrie who is set to direct the pic. “MI5” will face-off against Ben Affleck’s “Live by Night” on Christmas Day. Other competitors that will potentially compete for the top spot in December include “Alvin and the Chipmunks 4” set to be released on December 11, “Warcraft” & “Inferno” will hit theaters on December 18, and “Kung Fu Panda 3” is slated for December 23.

Also see: Jessica Chastain Offered a Part in ‘Mission: Impossible 5’?

The famous "drop" scene from "MI1"

The famous “drop” scene from “MI1”

“Iron Man 3” scribe Drew Pearce will pen the script with Cruise co-producing the action spy film with J.J. Abrams.  “Star Wars Episode 7” will be released one week prior to “MI5”, which also marks the debut of Abrams’ tentpole project for Disney.

Additional Source: Indiewire.com