Originally Posted by Homan13PSU
Only if you install it through the Market install option. If you side loaded the apk of wallet you won't be able to get upgrades.
No longer the case. Even if the workaround method is used to install it through Google Play, the Wallet app no longer is listed on Installed apps. While the work-around method continues to work for me to install and update Wallet on my stock Verizon Nexus, I have to seek out the updates manually.