It already has. Tip O'Neill used to speak highly of Reagan. Hell he used to play cards with him on an almost weekly basis. Chris Matthews speaks highly of him. I've heard more and more Dems say positive things about Reagan, especially in terms of foreign policy. To hear it though, you have to turn off the ultra sensitive paranoid blinders.
I'm sure when the time comes and Ronald Reagan leaves this world, many liberals will be dancing in the streets and celebrating. So be it.
Let's not forget, many in the opposition party may have respected Reagan, but even more on the leftwing, feared Reagan and that counts a lot more in my book.