As JSRAW pointed out, many of the countries differentiate between an Olympic sport and a non-Olympic sport. That's why many of the sports bodies (such as FIFA and FIBA) made a lot of effort to get their respective sports included in Olympic games. But the case with cricket is just the opposite. Since the last two decades, there have been delaying tactics from the ICC to deny any discussion on this subject.
Is it even possible to think about cricket playing in the Olympics two decades ago, the Olympic committee will not even approve a one day format to be played. The only hope for cricket fans to see cricket is because we now have T20 matches and it is not a couple of decades old.
There is a delay from the ICC for submitting their application to be in the Olympics and it might be because they are not going to benefit in the short term financially and i do not think they are willing to do anything in the near future until there are some major changes in ICC board.