You mean, the way Abrams did it with Trek? I think that only makes sense for the people paying for it when the original universe still has something going on that can be monetized (Trek has hundreds of novels, with many new ones coming out each year, most taking place in the original continuity). The SG universe has comparatively little; there are a few novels coming out each year (with the major effort, the Altantis continuation, having just recently concluded), and that's about it. Can't say as I've ever seen any SG merchandise, for example (I don't frequent comic book stores or conventions, but then again you can get Trek bedsheets and Vader slippers on every corner, not just at a convention).
If there's a "fresh" reboot, it'll probably just disregard the original continuity completely and simply use the core idea of the Stargate (i.e., a gate that goes between distant planets) as its basis, without any of the lore the movies and series tacked onto it.
Let's just hope they don't do what Disney did to the Star Wars Expanded Universe (FYI if you don't know: Disney basically declared the entire SW EU, some 550 novels across almost 30 years, null and void for the purposes of any future continuity. To be fair, I don't think they had too many options in their particular situation.)