That would be nice, but unlikely. The soaps move to Hulu wasn't without drama. In fact, their first attempt failed. With Debra Messing already committed to a new TV show, I'm sure its only a matter of time before the rest of the cast follows suit, I also don't think there's as much interest in SMASH as there was in AMC & OLTL, not to mention the cost cutting measures that would need to happen - they'd have to leave NY and how can you do a show about Broadway outside of NY?
There were just way too many strikes against this show all along - the move to Saturdays after the initial move to Tuesdays, the change in writers and show runner, the long break in between seasons, the change of the shows focus from Bombshell/Marilyn Monroe to a broader Broadway theme. The show would have had to be a huge success during its second season, but it just got worse after a shaky first season. Its too bad cuz the early shows were great.