Tom Cruise is reportedly selling the house that he lived in with ex-wife Katie Holmes and their daughter, Suri Cruise, according to the latest news.

News.com.au reported that the estate is valued at $50 Million. The "Mission Impossible" star reportedly acquired the property in 2007. He and Katie Holmes spent most of his married life there before they called in quits in 2012.

"Property reports suggest the seven-bedroom mansion was built in 1937 and updated just before Cruise moved in," the article said.

"Cruise, who has homes all over the world, placed another Los Angeles property on the market earlier this year, and he has also listed his sprawling ranch near Telluride, Colorado, for $US59 million," the report added.

Some speculate about Tom Cruise's timing of putting the house on the market. Is he ready to fully move on from his life with Katie Holmes and begin a new journey with his assistant and rumored girlfriend, Emily Thomas?

Previous news reports claimed that Tom Cruise is allegedly very serious in dating Emily Thomas. In fact, there are rumors that the "Mission Impossible" is allegedly thinking of popping the question.

"Tom Cruise is reportedly so head over heels in love with his 22-year-old assistant, Emily Thomas, that he is considering proposing to her," Inquisitr previously said in a news report.

However, there seems to be a problem that could hinder the actor's plan to propose marriage to Emily Thomas - apparently, Emily's mom and dad do not approve of Tom.

"Emily's parents were ecstatic for her when she got the job as Tom's assistant on Mission: Impossible, but they never imagined in a million years thought their daughter would fall for him," an insider previously told Dish Nation.

Apparently, Mr. and Mrs. Thomas' disapproval of Tom Cruise may have something to do with his past relationships with ex-wives, Nicole Kidman and Katie Holmes.