All indications are that Israel will take this further - if they stay true to their stated goal of defeating Hezbollah I would imagine they will have to invade Syria and Iran. The US hawks seem to like the idea of invading those two countries as well so my guess is there is some level of secret communication that has happened between us and Israel regarding this.
My guess is Israel invades Syria to draw Iran into it which would then draw us in. Unfortunately I think that that could also draw China and/or Russia into it at at least some level.
Then for good measure why not have North Korea invade South Korea and Japan.