Can you fix an ipod touch that got soaked at the beach?

Well, this is a really idiot move on my part, but at the beach today I ran to the water (blame the heat, Florida's hot as hell) and completely forgot that my Ipod touch was in my pocket. After about five minutes I realized that I did and immediately left it out to dry. This was at about one in the afternoon. The screen wouldn't respond when I tried to turn it on, so I just let it dry in the sun. When I got home about four, I saw that water was actually IN the screen, so I put it in giant box of silica gel to get out all the water. Will my ipod ever come back on again?