I'm not a homophobe. There are many problems with this. One being that he has been hetrosexual (or bisexual) in the past. Another problem is that it is a poor marketing strategy. Look at Brokeback mountain, got tabooed (not by critics though) for featuring a homosexual relationship. Also, it would greatly hurt Bond's reputation.

I do not see it happening, and Bond's history does not make it likely.