well it sounds like it possibly could be, and depending on the treatment they decide on you could very well be able to have more childre. I knew someone that had a grade 3 I think they called it and she went on to have 2 children, but it is all very dependant on your own situation, good luck :)
A finding of something irregular on a pap smear does not mean you have cancer. It's possible that it might be cancer, but that is not the only possibility. Don't worry about it until you know for sure what is going on. Wait until you get the results back from your next appointment and then go from there.