It was rumoured some time ago, but this is the closest thing to official confirmation in some time.
It's been reported that Spielberg is awaiting a script for Indiana Jones 5 and, if it meets his satisfaction, he will sign on to direct with Chris Pratt starring.
Spielberg's taken an interest in Pratt, having personally selected him for Jurassic World after his breakout performance in Guardians of the Galaxy last year.
As for who exactly is writing the script, we don't know. Since Lawrence Kasdan was drafted in to help write The Force Awakens with JJ Abrams, it's entirely possible that he'd lend a hand here and do some writing as well.
After all, Indiana Jones is under Lucasfilm / Disney's control, so there's a good chance Kasdan has been asked.
So, what role will Pratt play? The latest rumours suggest that he's going to play Indiana Jones himself, albeit a much younger version of him. Let's not forget that Harrison Ford was 40-odd when he made Raiders of the Lost Ark, so they're obviously keen to mine the time-period leading up to it.
Now, for those of you saying "Young Indiana Jones Chronicles", yes, but the character was in his early to mid 20's then. So, we're guessing this new film will be mid-30's Jones.
Or hey, it could be something entirely different altogether. Maybe he's playing a older version of LaBeouf's character?
We certainly hope not.