Gailbraithe
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I doubt there is a whole lot of demand for it. I always got the impression that D20 Modern didn't sell well - it wasn't supported very well by WOTC, which is usually a sign of low sales - and unlike D&D 3.5, D20 Modern doesn't have a large fanbase that a) already trusts the paizo brand and b) is very incensed by the new direction of the new edition.
Paizo put out Pathfinder because they had a trusted name amongst 3.5 gamers (thanks to Dragon and Dungeon and the Pathfinder APs), access to that market, and after 4E fragmented the 3.5 base, there was a big enough fragment that wanted an update for 3.5 but not the drastic change of 4E to turn into a profitable customer base for paizo.
Branching into Modern gaming would just divert resources away from Pathfinder, and wouldn't appeal to the majority of their customer base (just as D20 Modern didn't appeal to most of WOTC's base), so I don't see it happening.