If not he has certainly signaled his willingness to do so.
http://www.nytimes.com/2011/01/29/world/middleeast/29diplo.html?hpIMO this is the way an American President should act in a crisis. Egypt is an ally, or as close as we have to one in the Arab world, but Obama is saying there are some things we will not turn a blind eye to. Good for him. I know there are some who will never give him a break, but I don't think Teddy Roosevelt could have done this any better. And we don't even know what private talks went on before it reached this point.