I highly doubt it. If the 5S looks the same, more or less, as the 5, and the 5C is basically a 5 in a different shell, they'll definitely kill the 5. If people want the same specs, they'll buy the new 5C, if they want the design and/or high end they'll trade up to the 5S.
Plus, you'll get the people who will hold the 5S & the 5 side by side and conclude "aww it's practically the same phone, and the 5 is cheaper". Apple could rip out the entire innards and replace them with a machine that bends time & space itself, but if it looks the same on the outside, people uneducated on the matter assume very little has changed.
If I were Apple, I'd discontinue the 5 simply to stop it cannibalising 5S sales.