By Tanvier Peart ( | First Posted: Apr 11, 2013 02:00 PM EDT

Actor Wesley Snipes (R) waves while walking into the federal courthouse for sentencing in Ocala, Florida April 24, 2008. Snipes, who starred in the "Blade" movies series, was convicted in February on three misdemeanor counts of willfully failing to file federal tax returns for 1999-2001. (Photo : REUTERS/Scott Audette)

Only a week out of jail, it would appear that Wesley Snipes is ready to start up his acting career. Convicted of tax evasion back in 2008, Snipes has spent the last 16 months inside a federal correctional institution.

Does this mean his fans are going to get a "Blade 4"? No.

Reports are surfacing that muscle man Sylvester Stallone wants Snipes in the third installment of "The Expendables." Co-written and directed by Stallone, the franchise has seen great success at the box office grossing nearly $275 million worldwide with the first movie ("The Expendables"), and almost $270 million with "The Expendables 2" sequel. Not bad for a group of former action stars.

"Sly wants to help Wesley get back on his feet," reveals an insider. "He sees him as a super addition to 'The Expendables' in what will be their biggest adventure yet."

This sounds like the perfect opportunity for Wesley to reintroduce himself into the acting community as "Expendables" is action-packed and full of intense combat scenes. Snipes holds a 5th degree dan black belt in Shotokan Karate and has shown the world his butt-kicking abilities in films like "Passenger 57," "The Art of War" and the "Blade" trilogy. He would definitely fit in with cast mates that include Stallone, Jason Statham, Jet Li and Dolph Lungren. Also in discussion for the "Expendables 3" movie are Harrison Ford, Clint Eastwood and Jackie Chan. Sylvester also has his eyes set on Arnold Schwarzenegger and Bruce Willis reprising their roles.

If Snipes does in fact win a role in the movie, some question if there will be a need for former cast mate, Terry Crews. Many believed Crews was a fill-in as Snipes was in prison during the first two films. Though he holds his own and meets the fitness requirement, it's Wesley's resume of work that has more notable action performances. As it stands, Terry Crews is not a reported cast member in "Expendables 3," but that may change with time.

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