In the sense that Christianity had a reformation, and a bloody one at that, I believe Islam can only survive (as a peaceful faith that co-exists with other human faiths...) if it has a similar "reformation". It is a dichotomy that I - all at once - hope for and yet do not expect to happen. The hope springs from my optimism that those of us in the West... and even those silent voices within Islam - who truly want peace can win this.
The skepticism comes from my reading of the Old & New Testaments - nowhere do I find any indication that "the King of the South" will repent... in fact, it is quite the opposite. A case can be made that - in regards to the three great monotheistic faiths of the world, Judaism, Christianity & Islam - the Antichrist of the former two can be described as the "saviour" of the third (and vice-versa; the Islamic Anti-Mahdi fits the description of the Jewish Messiah/Christian Saviour as well).
This book shows that a reformation isn't possible. In Christianity, the passages where God commands the Jews to war against their enemies are considered in the context of that era. In Islam, it is herasy to relegate any passage from the Koran as not applicable to today. To become devout in Islam, the Koran will always lead back to militancy.