It won't happen anytime soon, if ever. Money is a huge issue, for one. They'd be much more likely to bring back the sports that they cut three years ago than to start a new one. Most of those sports are now club sports, much like ice hockey. There is an obvious question of venue for the ice hockey team. Right now, the club team plays at one of two different arenas in Laurel/College Park. They are the only club sport team that does not have a potential venue on campus. And, as others have said, supporting an ice hockey team would be much more expensive than the dismissed sports.
As for a fanbase, I do see the potential for a small group of students to become hardcore Maryland ice hockey fans. However, I can't see it being nearly enough to support a team. It has taken the men's soccer team many years to develop what has become known as "The Crew", a group of a few hundred students making up a rabid fanbase. For an ice hockey team that will likely be very bad most of the time, the fans will be few and far between.
Right now, most of the club sports' funding comes from Campus Recreation Services (my on-campus employer). We provide them a ton of funding for facilities, equipment, and (most importantly) travel costs. Ice hockey isn't even the most popular sport club. Rugby and Ultimate Frisbee probably take that prize.