Believe it or not the answer appears to be YES! A recent study looked at this phenomenon and found that after drinking 16 ounces of cold water increased metabolic rate by 30% in both men and in women.
The increase in metabolic rate was observed within 10 min after finishing the water and reached a maximum 30–40 min after water drinking. This increased metabolic rate was sustained for more than an hour.
The researchers estimated that increasing daily water intake by 1.5 liters would increase daily energy expenditure by approximately 47 calories. Over 1 yr, energy expenditure would increase by 17,400 calories which is 5.28 lbs of fat!.
So enjoy that cold water!