So, next week we are going to have the Smash presentation and the launch of Minecraft: Wii U Edition. Both in the same week. I can clearly see Steve to be announced in the Smash presentation. 

However, I personally don't think (and don't hope) that he's going to be in the game. But he has at least a chance.

Imagine all these Minecraft kids hearing that Steve is playable in Smash, a Nintendo game, on a Nintendo console.

Especially after Cloud I think everything is possible. And it is the last presentation. Sakurai will throw out everything he has to offer and wants to surprise us. This presentation will be even wilder and the Cloud reveal.

Cloud is a Square Enix representative, and comes from a company with a long history with Nintendo, and from a game that will most likely be on the NX. Steve is owned by Microsoft, a direct competitor with Nintendo, from a game that arrived to the WiiU dead last. It's not the same.

Oh hell no he would be the worst character in the history of fighthing games

Then again, Mii Fighters are a thing.

Yes, but a Mii skin is very different than a completely new character.

I'm just mentioning it to say it's conceivable that they would do it, given Mii's aren't much different than Steve.  Not saying it will or should happen.

There is a very slim chance that he could make it, but I don't think he will, nor would I want him to..

I'll quit Smash forever if Steve ever made it in Smash.

Shrugs I wouldn't mind but Master Chief would really shock me.

After Cloud everything is possible.

But I would definitely cross out Master Chief xD