of course it is...but a service which sends 1.000 or more messages, can negotiate a good price for the sms. For example let's say 4 cents. If you charge the publishers 4 cents for each ad, you'll be able to pay for the messages. If you negotiate a better price or charge more for the ads, you'll make extra cash ;)
Advertising on mobile phones is a really hot topic these days. But most of the implemented solutions are like this: you agree with the service to receive advertising messages, and you get something in return. This is not very efficient because the users can delete the messages without even opening them. I'll give more details in a dedicated article so stay tunned.