The 'Mission Impossible' star is said to have been interested in the project - a remake of the 1960 movie - for some time, though it is unlikely to go into production for some time. Studio MGM are currently looking for a writer for the movie, which also does not have a director attached as yet.
The original 'Magnificent Seven' movie - which was itself a remake of 1954's 'Seven Samurai' - starred Yul Brynner, Steve McQueen, Charles Bronson, James Coburn, Robert Vaughn, Brad Dexter and Horst Buchholz as a group of American gunmen hired to protect a small Mexican village from a group of savage bandits.
It spawned three sequels and was later remade as a TV series which ran from 1998 to 2000. Cruise will soon be seen in musical 'Rock of Ages' and in thriller 'One Shot'.