In an interview with Miyamoto, Matt asked about Kid Ikarus, and Miyamoto said it could be posible.
edit:
LinkIGNcube: Will you make Kid Icarus for Revolution?
Shigeru Miyamoto: Well, I'm actually working really closely right now with the director of the [original] game. Now, whether or not when we get the Revolution all set up and everything is finalized, well who knows? That might be one of those characters where everybody says, "Hey, with the way our console is designed, that would be a perfect match." My question to you is, if we made this game would you buy it?
IGNcube: Absolutely.
Shigeru Miyamoto: Well, we obviously can't ignore that. Okay, we'll get the Eggplant Wizard coming back.
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keep in mind this was said before the reveal of the controller, which I think lends itself to be a great control for flying characters, cant wait!