No. Wolves can only have appearing blue eyes when they have a genetic defect, things such as cataracts, which is really rare. In a natural way wolf eyes never come in blue.
Cubs are born with blue eyes, but that changes at about 6 weeks of age. Mature wolves do not retain blue as an eye color. Sometimes green or grey eyes can appear blue from certain angles or in certain lights.
If you see a wolf with blue eyes then he/she is most likely a wolf-hybrid and not a full-blooded wolf.