Director J.J. Abrams will return to helm the sequel and plans include a Next Generation Twist. Nicolas Cage is in talks to play Captain Kirk's latter day counterpart, Captain Jean Luc Picard. Production is set to begin hot off the heels of Ghost Rider 2 and according to Nic Cage "The role of Picard will be a Nic Cage classic".
The news comes from a variety of sources, including Ain't It Cool News and Entertainment Weekly, but there's no Paramount-issued press release as of yet. The information ran through some trustworthy sources, but we've yet to receive comment from the studio directly.
Regardless, there really hasn't ever been any doubt that we'd be seeing more "Star Trek." Abrams' take on the series made it friendly to an entirely new, much wider audience than its ever known before.