IGN has recently reported on their latest interview with Sakurai - the maker of Kid Icarus, among other popular Nintendo games - that he was saying that the next time we would see a new Kid Icarus game wouldn't be for another 25 years. This is not uncommon though, Sakurai usually doesn't make sequals for the same game in a generation so let's hope that on the next generation Nintendo handheld or Wii U we could possibly see a new Kid Icarus game, maybe with better controls. But Sakurai makes it sound unlikely:

Quote:
“No matter how much you change a game's genre and whatnot for the times, I think it's vital you never lose your respect for the original game,” he said. “With the first Kid Icarus, it's not a serious adventure - it has a more humorous bent to it, one you don't see in the original Legend of Zelda and Metroid that came out that generation. To embody that in a modern style, we made efforts not to have it seem like a run-of-the-mill battle - the story flow is really daring and unfolds in crazy ways that don't pay too much attention to the setting.”
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Source: IGN