They already have!
1951 & 1952 - Ken Wharton in a Cooper-JAP Mk 4
In 1953 & 1954 he also used an ERA as well as the Cooper.
1955, 1956 & 1957 - Tony Marsh in a Cooper-JAP Mk 8
1958, 1959 & 1960 - David Boshier-Jones also in a Cooper-JAP
1961 - David Good in a Cooper-JAP
As for the current era there may be an outside chance if you consider the Powertek V8 in Trevor's OMS to be a 'bike engine'?
On Sunday at Harewood in the second wet run-off the bike engined cars were on the pace of the V8s up to Orchard then they fell behind on the blast up to Farmhouse and then the run up to Quarry.
Currently the attempts to either Turbocharge or Supercharge bike engines has not been successful, which isn't to say that they will continue to be so. However I suspect that they will still struggle to beat a good V8.
