Smith will reprise his role as Agent Jay, while Tommy Lee Jones Jones will once again take on the part of Agent Kay, although most of the action takes place in 1969, with Josh Brolin playing a young Jones.
Brolin recently refuted claims he would be replacing Jones in the movie, saying: "I don't know what the balance is yet. I'm not replacing Tommy, that I know. There's more suggestion going on than anything.
"It's very, very interesting. As you can tell I get nervous talking about it because I'm not there yet and hopefully it'll be alright. I think it's going to be a lot of fun," contactmusic.com quoted him as saying.
Men in Black III is due to be released May 2012.
