TV Guide says that J.J. Abrams, the creator of Alias, believes it still has life in some form after the end of the Season Five series finale episode.
Executive producer Jeff Pinkner hinted that they may not be done looking at the different directions they could take the franchise. “There are versions of this show which could exist after this season. There are plenty of stories we’d love to tell,” Pinkner said in an interview.
While no official talks have taken place with the ABC network chiefs, Abrams has considered the possibility of doing a series spin-off with villains Sark, Peyton and Sloane as the central characters. Pinkner calls them the “…triumvirate of evil!”
While the spin-off, if it were to happen will probably not include Jennifer Garner, Abrams and Pinkner are toying with the idea of bringing Ms. Garner to a big screen adaptation of her most famous role.

Thats great news! I love Alias! And that spin-off sounds excellent, Sark is a great character.