In order to determine whether the given reaction will occur, we need to consider the reactivity of the halogens involved (iodine and chlorine) as well as the general rules of single replacement reactions.
In a single replacement reaction, a more reactive element can displace a less reactive element from a compound. Chlorine is more reactive than iodine. Therefore, if chlorine is present in the reaction, it will not be displaced by iodine nor will iodine readily bond with chlorine.
Considering this, the correct response is:
No, it will not because iodine is less reactive than chlorine.