There is a chance of a sequel happening. It made $80 million domestic and worldwide it made $216 mill, so while it made good money overall it was still a kind of a disappointment at home. But it all depends on Tom Cruise, studios would probably make it, but does he want to go back to what might be considered a 'losing' franchise? He's already going back to Mission Impossible to get a huge movie again.
Valkyrie - $83
Knight & Day - $76
Mission Impossible Ghost Protocol - $216
Jack Reacher - $80
Oblivion -$89
Mission Impossible 5
He's not doing $100 million domestic like he used to but all those movies are still good for at least $200 million worldwide.