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RE5 is still extremely uncertain. First of all it's coming out in 2009 at the earliest, and we can't say with any great detail what the gaming market will look like then. It's also coming from Capcom, a company that has a great history with Nintendo, as well as a known tendency to abandon platforms that aren't doing too well.

Ubisoft was smart, supported the Wii from the start, and made a killing with Raving Rabbids and Red Steel. Now Capcom has the chance to be the first to bring one of their core franchises over, and really rake in the cash. Lots of people seem to think the Wii will only get spin-offs, but RE4 has showed how much better quality games sell on the system, and we can be damn sure Capcom has noticed as well.

Besides, we've all seen the RE5 trailer. It's basically RE4 in Africa with HD graphics and a few more moving objects. They'll probably have some pretty big bosses or whatever, but I doubt there's going to anything the Wii will be unable to run in SD.

All that said, I'm not sure how much I'm looking forward to this game.. The people who started the series and returned to make it great with the fourth part have long since left Capcom. Probably a bit of bias from me, since the guys who left are some of my favorite developers (the guys behind Okami, Viewtiful Joe, DMC and other masterpieces), but I can't see 5 being all that impressive compared to 4.

tl;dr: It would be logical for Capcom to release RE5 on the Wii, and there's nothing stopping them from doing it, but it'll probably suck anyway.

Oh, and they've announced that they're currently working on Bionic Commando, DMC4, Dark Void, and a bunch of other games for the 360 and PS3, but their Wii lineup consists of only a port of Okami and Monster Hunter 3. Moving RE5 to the Wii would make their roster look much more sensible, especially when everyone is talking about developers shifting resources for the Wii.