No.
Edit: Indeed, I'm dumbfounded. Like nevan-king I'm going to leave my answer nevertheless, since I still think that's the way it is intended to be done by the iOS guidelines (and my personal opinion about localizing whole images in order to localize its text...).
A splash screen is not intended to provide information. Splash screens are only shown for like a second or so, so it would be unfeasible to show text anyway.
Common practice for what you want to do is to use your image without text as splashscreen, and after that show a custom view with your image and localized text for a few seconds.
That way it will seem like you had a localized splash screen (and the text appears shortly after the image, which is fine).
However, keep in mind that the idea of iOS apps is fast responsiveness, so only show a "startup screen" if you must (for marketing reasons or whatever).
Read this for further information: http://developer.apple.com/library/ios/#documentation/userexperience/conceptual/mobilehig/IconsImages/IconsImages.html#//apple_ref/doc/uid/TP40006556-CH14-SW5