It took more than 25 years for the original NES Kid Icarus to receive a sequel. If Kid Icarus Uprising's director, Masahiro Sakurai, gets his way, it will be another 25 years to get yet another follow-up. While the decision is ultimately in Nintendo's hands, he said "for now, my thought is that perhaps we'll see someone else besides me make another Kid Icarus in another 25 years."
The reason Sakurai wants to avoid a Kid Icarus sequel is because a sequel wouldn't have much new to offer. "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," he told IGN.
While it's true that the "novelty" of a sequel to Uprising may wear thin, there's another good reason why we shouldn't expect a follow-up any time soon. Project Sora is working on the next Smash Bros games for Wii U and 3DS.