I'm sorry to hear that this happened, but I wouldn't give up hope just yet. Electronics are a lot more durable (in some ways) than people expect.
Unfortunately with the iPod rarely ever going "off" its chances of surviving are significantly reduced.
Generally, no matter what the electronic device is, as long as it's not actually powered, if you give it a chance to dry out completely there's a good chance that it will work again as long as contacts etc haven't been corroded. However, if the device is powered when wet, it can short-circuit which will kill it completely.
9 times out of 10, even if the device is off, the battery will be dead though.
If you can open up the iPod without damaging it, I would recommend doing that, and either letting it dry off completely, or washing it in de-ionized water and then letting it dry off. If it doesn't look like you can open it, I'd keep it near to a source of heat (not too hot though; you don't want to damage it more) until it looks like it's completely dry. I would usually give most "sealed" devices a week or two, even if they look dry, there could still be moisture inside them.
As the battery will probably be dead, you'll have to see if it works by plugging it into the mains to see if it'll actually work off that. If it does, then at least the iPod is working. You can then try leaving it to see if it can charge the battery, and more importantly, if the battery can still hold a charge. (it might be able to, but will definitely have a reduced life)