Eve will star opposite Thompson, Will Smith, Tommy Lee Jones, Josh Brolin, Rip Torn, Alec Baldwin, Jermaine Clement, Sharlto Copley and Nicole Scherzinger.
Barry Sonnenfeld is directing.
Agent J (Smith) is forced to travel back in time to team up with the young Agent K (Brolin) to save the world.
It was recently announced that Men In Black III had extended a pre-planned holiday hiatus, with production expected to re-commence at the end of March.
Men In Black III will be released on May 25, 2012 by Sony Pictures.
Source: Deadline