According to Masahiro Sakurai, the man behind Kid Icarus: Uprising, he doesn’t have plans to make a sequel to the game, explaining that:
…because we pushed a lot into the game in order to let people have this short yet deep experience, but the novelty of that would likely grow thin in the next game. For now, my thought is that perhaps we’ll see someone else besides me make another Kid Icarus in another 25 years.
I wouldn’t be surprised if we see Pit make an appearance sooner than twenty-five years, but I also wouldn’t be surprised to see Sakurai stick with his word. Either way, I think we can be grateful that the game won’t get the Call of Duty-treatement. That in itself is not too much of a revelation though.