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According to The Hollywood Reporter, Cruise has been considering the movie for several weeks.
The Tourist will be an adaptation of a 2005 French feature, which was based around an American tourist who is used by a female Interpol agent in a spy game.
Bharat Nalluri is helming the feature, while Julian Fellowes is producing the script.
Earlier this week, Cruise pulled out of Columbia Pictures' Edwin A. Salt.
More: Tom Cruise, Movies
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