http://mynintendonews.com/2012/07/01/reasons-why-earthbound-hasnt-come-to-the-virtual-console/
Earthbound Central has apparently received word from a Nintendo of America employee that Earthbound hasnt appeared on the Virtual Console for a number of reasons. Nintendo of America basically wanted to make some changes to the game, but Nintendo Japan is reluctant to implement those changes. Heres what apparently needs to be changed before the game can appear on the Virtual Console:
The Sky Runner song needs to be changed
The Chuck Berry battle song needs to be changed
The Dalis Clock enemy name needs to be changed
here's those 2 songs
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http://i.imgur.com/9PnFY.jpg
http://card.psnprofiles.com/1/CaptainRockman.png