According to Dark Horizons, Oscar-winning filmmaker James Cameron advised the BBC that he may indeed helm a potential Alien 5 (a separate project from the upcoming Alien vs. Predator film). "We're looking at doing another one," reveals Cameron, who also helmed the 1986 smash Aliens. "Something similiar to what we did with Aliens. A bunch of great characters, and of course Sigourney [Weaver]. I've even discussed the possibility of putting him [Arnold Schwarzenegger] into the Alien movie." [...]
By the way, Cameron "couldn't stand Alien 3 – how they could just go in there and kill off all these great characters we introduced in Aliens, and the correlation between mother and daughter. It stunk, but hopefully I'll get a chance to rectify all that [with Alien 5]."
Yes, it must suck when someone else takes over a franchise you didn't originate and cancels out all your additions to the original story. How is Cameron planning on rectifying the situation, do you think? By having Ripley come out of suspended animation and discover to her relief that the previous two films in the franchise were just a bad dream?