Indeed. ^.^
This variant cover for Generation X #1 (on sale May 17!) is based on a pin-up found within "X-Men: Unlimited" #6 (September 1994): https://comicvine.gamespot.com/x-men...am/4000-39657/
As far as I can tell, this is the remastered variant by Bryan Hitch & Paul Mounts, while the original image was by Bryan Hitch & Cam Smith in 1994.
http://www.cbr.com/generation-x-1/
Here's the original image for comparison! And an uncolored version.