I take a little more hopeful view: there cannot be peace until Islam is dealt a defeat so severe that the surviving Muslims decide that the warlike passage of the Qu'ran really should have always been interpreted in a sublimated spiritual sense as enjoining warfare against unbelief within oneself, that jihad as warfare against other people was always a horrible mistake, and decide this so definitively that all future generations of Muslims will suppress attempts at literal interpretation of the Qu'ran. (cf. the effects of the Seige of Muenster on the Anabaptists and of Hiroshima and Nagasaki on Japanese State Shintoism.)
That would require the repudiation of the example of the prophet which is what is written in the Koran.
They want to die for their religion. We should oblige them.
I have a better idea. A defeat so severe only scholars of antiquities will even know what the word Islam means. Like Baalism or Isis worship.