From Nikki Finke
I have this from several sources, and it's definitive. Filming on the back-to-back movies would begin in mid-October, and Summit Entertainment is looking at "high-end" directors. Breaking Dawn is the longest in Stephenie Meyer's 4-book series lengthwise and it's the most graphic -- presenting birth, attempted murder, death, and of course vampire bites. Published on August 2, 2008, it has a happy ending for most of the characters. Divided into 3 parts, the 1st and 3rd sections are told from the point of view of Bella (Kristen Stewart), and the second section from the perspective of Jacob (Taylor Lautner). It prominently features all 3 favorite characters including Edward (Robert Pattinson). Summit Entertainment no doubt will save money by making these Twilight Saga movies #4 and #5 back to back. Screenwriter Melissa Rosenberg (who's written all the Twilight Saga films) is currently adapting Breaking Dawn. Eclipse, the 3rd movie, will be released on June 30th. Meanwhile, Yen Press, the graphic novel imprint of Hachette Book Group, announced last month that it will publish the first volume in the graphic novel adaptation of Stephenie Meyer's Twilight on March 16th. Due to the length of the prose novel, the book will be divided into 2 volumes and the release date for the second volume is forthcoming. Containing selected text from Meyer's original novel with illustrations by Korean artist Young Kim, it's a fusion of Asian and Western comic techniques in mostly black-and-white with color interspersed throughout. Novelist Meyer consulted throughout the artistic process and had input on every panel.
ETA: Gossip Cop says: Not confirmed, but "sources" are saying "it's going in that direction."