It is and has been approved! I have been shooting mine since October.
http://www.uspsa.org/uspsa-NROI-production-gunlist.php
S&W
M&P Pro series 5" 9mm (29.2 oz.),Sigma models Compact SW9V (26 oz.), SW40C (26 oz.), SW40F (26 oz.), SW40V (24.4 oz.), SW40VE (24.4 oz.), SW99 9 & 45 (25.4 oz.), SW9C (25 oz.), SW9F (26 oz.), SW9M (18 oz.), SW9VE (24.7 oz.)
(Any DAO or DA/SA revolver with a barrel length of up to 8.5" is approved)