Alright, so if you recall in the latest issue of AVX Iron Man is stuck in his lab in K'un Lun trying to piece together how Hope, Iron Fist, The Phoenix Force, and Wanda's power are all related.
As soon as Marvel teased the reunion of the Illuminati it became quite apparent: All of these powers tap into various infinite gems. Iron Fist attains his power from his Chi, or Soul, Wanda has Reality warping powers, The Phoenix Force would represent the red Power gem, leaving only Mind, Space, and Time unaccounted for at this point in the series.
This became even more obvious when I looked back to the first arc of Avengers in the Heroic Age where Parker Robbins obtains the infinite gauntlet before Iron Man "wishes it out of existence" only to form a new Illuminati and hide each gem.
I'm guessing that Hope will wear the gauntlet since she is both the mutant savior and siding with the Avengers, so her recreated universe should serve both sides well. One might first think that since Namor is decidedly against the Avengers getting their hands on the gem he hid, that the gauntlet will be incomplete. That is an easy fix though, since the wielder of the gauntlet will control Space and Time at that point.