Laurence Fishburne and Philip Seymour Hoffman have signed on to star in the J.J. Abrams film “Mission: Impossible 3,” already starring Tom Cruise.

According to The Hollywood Reporter, Fishburne (The Matrix trilogy, Biker Boyz) will play the mentor to Cruise’s agent Ethan Hunt, while Hoffman (Cold Mountain, Along Came Polly) is set to play the villain.

The two actors will also join Keri Russell, Ving Rhames, Jonathan Rhys Meyers and Michelle Monaghan in the long-delayed film, which will finally begin principal photography July 18 in Italy. The film is expected to be released May 5, 2006.

Cruise and Rhames are the only remaining members of the original cast that was assembled to begin shooting last summer. Carrie-Anne Moss, Scarlett Johansson and Kenneth Branagh have since opted out because of scheduling conflicts.

The film was put on hold when creative differences forced director Joe Carnahan to drop the project. Abrams, who emerged as his replacement, was unable to shoot last year because of his commitment to the hit ABC series, Lost.

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