April 22, 2010 at 09:18 PM EDT

While reports that Will Smith has definitely signed on to star in Men in Black 3 are premature at best, sources tell EW.com that the A-list movie star is leaning towards making the third installment of the uber-popular franchise his next project. Sony Pictures could not confirm, and Smith’s reps have said he has not yet officially decided between MIB:III or Twentieth Century Fox’s movie The City That Sailed, a fantastical adventure that would reunite Smith with I Am Legend director Francis Lawrence.

However, sources close to the Men in Black franchise are hopeful that the movie will enter production this summer with Smith and Tommy Lee Jones back on board to battle aliens while Barry Sonnenfeld directs again. Also, the studio has not yet decided whether it will be in 3-D, but it’s obvious that they’d be leaning that way.  The script is currently getting a production polish from David Koepp, the man behind such enormous blockbusters as Spider-Man, War of the Worlds and Angels and Demons. Meanwhile, City that Sailed is just waiting for an answer from Smith, since the script, from Andrew Niccol (The Truman Show), is complete. It seems that if Koepp, who has worked for Sony for a long time, fulfills his end of the bargain, we’ll see Smith back on the big screen as Agent J as early as next summer.

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