Make it happen, Nintendo.
They should. It's only almost certainly the best N64 game that wasn't released in the US, and certainly the easiest one to localize...
I've seen nothing to indicate this coming to the US... Nintendo hasn't released so many other gems here, for example the already translated Mother 1, so I don't see why this would jump to the top of the list.
That said, I certainly think Nintendo should eventually start releasing these previously unreleased titles on VC in America. I just don't know if they are even considering it.