if m theory is correct, then yes, exactly, we are inside of something, so to say...

our universe is one membrane vibrating across hyperspace, like a bubble, and there are many other bubbles around. In fact, this model makes coherent mathematical explanations for the big bang, which would be a collision between two (or more?) vibrating membranes.  So universes must be created all the time, like ron once said that the universe is a thought in God's mind,  and the collision of thoughts create new existences.