In 1992 China acceded to the NPT as a Nuclear Power. Israel could do the same. Israel already cooperates with the IAEA, which inspects it's civilian facilities, and with which it has a very good relationship. There would be no change in that relationship while Israel would be relieved of it's absurd and often embarrassing position of pretending what is impossible to pretend to.
Chief suspect in Bangkok bombing case arrested (dpa)
from the article: Israel needs a new nuclear policy