We were just talking about this in class yesterday! Remember that article Madeline posted about Egypt proposing a plan for a nuclear-free Middle East at this month's NPT conference? It sounds like the US is on board, along with Russia, Britain, France, and China.
And to answer the obvious question, yes, this would require Israel to admit their nukes and give them up. Remember that since Israel isn't a signatory to the NPT, they are not involved in this particular set of discussions. That means they may simply reject this whole idea.
More from the New York Times.