Don't know but i haven't seen anything that says differently, only problems when people tried.
As others have noted, Fang has already announced that it will.
By the way, even the HM801 takes 128GB SD cards so it would really be odd if its replacement, the HM901 doesn't. I have three 128GB SD cards that I use with my HM801 with no issues whatsoever. You just have to format the cards to FAT32.
from the 901 thread