'Mission: Impossible 5' Release Date Moved: To Hit Theaters This Summer

It looks like fans of the Mission Impossible series will be seeing Ethan Hunt back sooner than expected.

The news came after Paramount Pictures and Skydance Productions decided to move up the release of "Mission: Impossible 5" five months up from its scheduled Christmas premiere this year.

The movie studios issued the announcement as they expected the production of MI5 to be completed earlier than expected, the Hollywood Reporter said.

"The hybrid CGI/live-action family film Monster Trucks, will take Mission: Impossible 5's original Christmas Day release. That film was previously scheduled for release on May 29, 2015," the Hollywood Reporter said.

Now set to be released on July 31, MI5 will be facing competition at the box office against "Guardians of the Galaxy 2," which will be launched in the same weekend.

In its new home, the latest instalment in the Mission: Impossible franchise will also go up against Alcon and Warner Bros.' "Point Break" redux, as well as "Southpaw" starring Jake Gyllenhaal.

The decision will distance the Tom Cruise starrer from J.J. Abrams' "Star Wars: The Force Awakens," which rolls out in theaters on Dec. 18, as well as MGM and Sony's James Bond sequel "Spectre," which is rumored to open on Nov. 6.

"Paramount may have wanted to shift its release date to move MI5 away from the next James Bond film, which is due out on November 6th, as well as the new Star Wars, which comes out December 18th," it also added, according to the Verge.

Directed by Christopher McQuarrie, MI5 is also an action blockbuster, which is the type of picture that tends to do very well in summer.

McQuarrie also directed another Tom Cruise starrer, "Jack Reacher," but didn't receive positive critical reception. He found more success as a writer, being the name behind "The Usual Suspects" and "Edge of Tomorrow."

The last film, "Mission: Impossible - Ghost Protocol," earned nearly $650 million globally after its release in December 2011.