Smallville is moving ahead to Season 8. A variety of sites are reporting it based on some press release that I can't seem to find. Here's the relevant bit:
"Also renewed were the long-running Thursday night team of 'Smallville,' which will begin its eighth season, and 'Supernatural,' which will begin its fourth season."
According to SupermanHomepage.com Kristin Kreuk (Lana Lang) will be back for at least a portion of the season. Michael Rosenbaum (Lex Luthor) and Allison Mack (Chloe Sullivan) are still up in the air, although renegotiations are imminent now that there has been a pick up.
And over at the Comics Continuum they're saying that for some reason the show's Martian Manhunter may not be able to put in an appearance due to all the Justice League movie gyrations. Why exactly either of those have anything to do with the other is beyond me.
It also seems that most everyone's contract is up in the air since I believe that except for Tom Welling, everyone signed up for a 7 season stint on the show. It's been stated for quite a while that Michael Rosenbaum, who plays Lex Luthor on the show wouldn't be back for an eighth season, which I always thought would be the kiss of death for the series.
If you want to lose someone, lose Lana, not Lex. Although based on the last couple of episodes I think it's already headed downhill.
Come on Smallville - surprise me and turn the show around before it sinks deeper into the muck of cheesy, shark-jumping territory.