It does not seem like it. Probably because it is not revenue generating. I find it really petty and annoying, as that is all I use itunes for, and the only reason I would like it on the phone.
I do not like that anyone can jump on my phone, start playing with it, and be downloading stuff that I get charged for. As far as I can tell, there is no way to hide the icon or turn it off at this point.