Doubtful. This would alienate the Bajorans and hurt the Federation's position with regard to using the Wormhole. It would also make it more difficult to talk the Bajorans into joining the Federation at some point in the future.
Well the Bajorans were fairly quick to come up with a peace agreement with Cardassia. Plus an important Bajoran office (CO of DS9 no less) did help the Cardassians.
I doubt the Federation would offer membership anytime soon but I could see them helping the Cardassians with relief efforts, etc. I doubt Bajor would have a problem with that and suspect that DS9 would be instrumental in this also.