I doubt it.
Being Cel animated (aposed to 2D Digital Animation), it would require a new HD master without DVNR (Digital Video Noise Reduction), and a restoration (to remove Print/negative damage, scratches, cel dust , and Cel shimmer). This would be costly. I'm not sure who owns the copyright and who owns the negatives. I'm assuming The Children's Television Workshop would have some rights, but BBC (via WB) just rereleased it on DVD a few months ago. Now it is possible that it would be released on Blu without restoration, but that would mean a horrible picture quality (like the Secret of NIMH Blu which had zero restoration).