Not likely. Iran is heavily involved. And Pakistan is walking a tight rope here.
But honestly though, KSA has supported Pakistan on many occasions. Same can not be said about Iran. Lately Iran has accommodated Indian influence just across Baluchistan. That's not how a good neighbor acts. It should not be forgotten that Pakistan helped Iran with its nuclear program but they disclosed it to entire world.
Fight in Yemen is against a minority militant group which has overthrown majority government (Houthis make only 30% of population). I am against ground troops taking part in fighting inside Yemen. But I don't see anything wrong with providing Air Support, logistics, and taking up COIN advisory role for an ally which hasn't betrayed us in the past. If we are to win dependable allies we have to assist them when they need it. It works two ways. And no, it's not mercenary work. It's alliance. A coalition. Just like West builds before entering into a conflict. It gives you friends and allies on international stage; something we need these days.
Don't give in to Indian comments here. They are all talk about India a frontline state against terror, international ally against etc etc. But they will never go and fight against terrorists. Against Talibans? ISIS? Boko Haram? Never! Talk is cheap and expends no political mileage.
We live in a time of alliances. Dependable allies are hard to come by. We don't hold animosity against Iran but we will stand by those who stood by us. Pakistani blood doesn't have to be spilled on this war. Sharing our experience with them should do. Military advisors and Air assistance is good enough.
Some of Pakistan's closest allies are united in this action, like Turkey, Jordan and KSA. Tomorrow if India threatens us, they will know Pakistan's allies will not watch silently. So I think, carefully, Pakistan should offer its assistance.