Steven [Spielberg] just said that he cracked the story on it before I left and I think they're gearing that up.Then there's another quote by producer Frank Marshall which states that while there is not yet a script (which of course means anything could happen), there is an active effort going on to get the project greenlit.
Personally, I would welcome Indiana Jones 5, and I was among the most deeply disappointed with the character's latest cinematic outing. It's just that these guys are all really old, and Ford probably only has one left in him, so why not? It's not like they can damage the series any more than they have, and I suspect after returning to Indy after such a long hiatus, Spielberg might actually be in the groove of fun summer escapism again and be able deliver a satisfying Indy flick that serves as a proper farewell to the iconic hero. We'll see, of course.