Celebrated actor Tom Cruise is about to be celebrated even more. The Friars Club has announced that the "Mission: Impossible" star is the recipient of their coveted Entertainment Icon Award, according to reports. It is the highest honor bestowed by the Friars Club.

Making the award even more prestigious is the fact that very few actors have received it. In the entire 108-year history of the Friars Club, only three people before Tom Cruise have been celebrated with an Entertainment Icon Award. Douglass Fairbanks, Cary Grant, and Frank Sinatra are the only other performers to win the award, according to the Hollywood Reporter.

When the Friars Club announced Cruise as the recipient of the Entertainment Icon Award, they praised the actor thoroughly for his work in the industry, according to The New York Post.

"Tom Cruise will join an elite group of only three other entertainment legends who have received our Icon Award, and whose work has made a global impact on our industry and changed the very face of cinema," Friars Club Abbot Jerry Lewis said.

The award will be presented to Cruise this summer in early June, at the Friars Foundation Gala at the Waldorf Astoria Hotel in New York.

The Friars Club Foundation's Chairman, Ambassador Joseph Zappala, is excited for the night of the Gala, and the chance to celebrate Cruise.

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"This will be an incredible night that will live forever in our club's history. We are so proud to be presenting this unique honor to Tom Cruise whose humanitarian endeavors mirror his accomplishments in cinema and the arts."

The 49-year-old actor won accolades for his recent starring role in "Mission: Impossible – Ghost Protocol," where Cruise even performed some of his own stunts.

His next upcoming film is "Rock of Ages," a project of director Adam Shankman. "Rock of Ages" is set to come out early this summer.