Why wouldn't it? Why would it continue to act on it's reward function but not seek the reward directly?
Well, one hint is that if you look at the actual real intelligences (aka people), not that many express a desire to go directly to wireheading without passing Go and collecting $200...
Part 1 was previously posted and it seemed that people likd it, so I figured that I should post part 2 - http://waitbutwhy.com/2015/01/artificial-intelligence-revolution-2.html