No. WD-40 will break down the grease packed into the bearings, decreasing service life and requiring rebuilding, or replacing, much sooner then needed. Pedals with bearings tend to turn slower, but smoother, then cheaper pedals with plastic bushings, which are specced on most X-mart bikes.
Yes, it is my friend, it is my friend, it is my friend!
Actually, I was referring to the clipping mechanism and not the actual bearings. Bearings should always have grease.