A magazine in the US has claimed that Rockstar is working on the next instalment in the GTA series to have it ready in time for Christmas.

Although we're still waiting on the long-promised GTA IV Xbox-exclusive DLC, the magazine reckons that GTA V is already in the pipeline, even going so far as to suggest it will be Tokyo-based.

The magazine reads: "We're not talking about new DLC or a collection of previously available DLC, we're talking about a full retail game. We expect this title to follow the suit of previous GTAs and use a subtitle such as GTA: San Andreas. Tokyo might be a possible setting for the game, but details are non-existent at this time".

Vice City was on shelves just a year after Grand Theft Auto III, and if the rumours are true, there would be 18 months between IV and V.

However, the difference in completing a game for PS2 as opposed to a next-gen console is considerable, and so it would be a super-fast turn around, particularly for a new location.

Rockstar have so far not responded to the claims.