05/19/2006 AT 09:00 AM EDT
Nicolas Cage has bought a 40-acre-plus island in the Bahamas that had been on the market for $3 million.
According to the Wall Street Journal, the island could be developed, although it is now untouched. Cage had no comment.
The property, located near an island owned by Faith Hill and Tim McGraw, is about 85 miles southeast of Nassau and is part of the Exuma archipelago of some 365 islands in the southern Bahamas.
The Leaving Las Vegas Oscar winner, 42, also has a home on Paradise Island in the Bahamas. Last year he sold his Malibu house for close to $10 million.
Cage joins the ranks of other celebrity island-owners, including his good friend Johnny Depp, who owns a Caribbean isle, and the late Marlon Brando, who lived on a private island in Tahiti. (Brando starred in The Godfather and Apocalypse Now, both directed by Cage's uncle, Francis Ford Coppola.)
Cage and wife Alice, 22, welcomed their first child in October, a boy named Kal-el Coppola Cage. Kal-el is Superman's Kryptonian birth name.