Oscar winning director Sam Mendes (Away We Go) is in talks to direct the 23rd chapter in the James Bond franchise, according to The Hollywood Reporter. Daniel Craig will reprise his role as 007 in the project, which is currently being scripted by Neal Purvis and Robert Wade (Quantum of Solace, Casino Royale) in collaboration with Peter Morgan (Frost/Nixon). The movie is tentatively slated for release in 2011.

UPDATE: MGM told EW “we’re not confirming at this time.”