It will eventually. No time soon.
I'm sure you read
www.fiercemobilecontent.com www.mobilecrunch.com and
www.moconews.net as I do. You see the projections then you also see the sobering realities on the lack of uptake in the market.
The market is over hyped but there's a lot of suckers with big checkbooks ready to buy whatever is targeting the market right now.
The reality is this, mobile ads will only truly count on mobile search engines and carrier portals. Unlike the web people aren't really happy to click a banner on a wap page to leave a mobile site that they already had to click too many times to get in the first place.