Monaghan is Cruise's leading lady

Tom Cruise will star alongside Michelle Monaghan when filming for Mission: Impossible III starts next month.

The Mr & Mrs Smith beauty has taken over leading lady duties from Scarlett Johannson, who was forced to drop out of the project last month due to a conflicting schedule.

Cruise's young lover Katie Holmes and Lindsay Lohan were also in the race to play Cruise's love interest, but Monaghan beat out their competition to be chosen by director JJ Abrams and the Collateral star.