He currently (08 sep. 2008) has no contract, so right now the answer is no.
He is however trying to get a contract or at least a one game gig to get the oldest NFL player ever, but so far there is no deal
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Morten Anderson started out by playing for Michigan State, and then got drafted by the New Orleans Saints in 1982 and last played for the Atlanta Falcons in 2007
Morten Andersen officially retired on December 8, 2008, at the age of 48.
He played his last NFL game at the age of 47 on December 30, 2007.