The couple were joined by the prince's cousins, Princesses Beatrice and Eugenie, and aunt Sophie, Countess of Wessex, for an exclusive preview of the highly-anticipated sequel.
Cruise offered William the chance to be among the first in the world to see the film after learning he was a fan of the original 1986 movie and arranged the private screening at an IMAX cinema off London's Leicester Square.
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A source said: "It's a very unlikely movie premiere, but Tom made the offer after learning William is a fan. They happily accepted. Let's face it, guests don't get much more A-list!
"The rest of the cinema was shut to ensure privacy and William, Kate and a few other members of the royal family — plus a couple of very trusted friends — were the first to see it.
"Tom welcomed them and said he hoped they'd enjoy watching it as much as he'd enjoyed making it, and left them to it."
The movie was said to be a hit with the royal audience.
The source added: "Apparently, it was met with royal approval — not least because William has been a military pilot himself so it's pretty close to his heart.
"It's also a mega-bucks film with some of the most incredible stunts ever performed on camera so it lives up to the hype."