Sales of Dead Space 2 have been double those of the original, but it won't be until the release of Dead Space 3 that the series will really take off, EA said.
Guess that means Dead Space 3 will probably happen, then.
Speaking during the Goldman Sachs Technology and Internet Conference, CEO John Riccitiello said: "Right now we've got strong, growing franchises including Madden, FIFA, Need for Speed, Medal of Honor and Battlefield.
And "Mass Effect, Dragon Age and the one that's sort of not proven that's coming later in our fiscal year, Star Wars [The Old Republic]".
"That excludes Dead Space because I think it will probably take Dead Space 3 before we get into that five million unit cadence versus say three, four."
He added: "It's the best IP portfolio in the industry and the history of our company."
Visceral's Dead Space 2 launched last month to critical and commercial success. EA chief operating office John Schappert said Dead Space 2 was outpacing sales of its predecessor by a factor of two to one.
Following comments from EA exec Frank Gibeau last year that the original game "didn't hit expectations" at retail there was a sense that this was Visceral's last chance to get the franchise to stick.
Developer Visceral, however, is sure to answer the call should it come. Last year executive producer Steve Papoutsis told Eurogamer he hoped Dead Space 2 would be successful enough for EA to ask for a third game.