We examine the HI+ { H _ { 2 } } content of blue-sequence E/S0s — a recently identified population of galaxies that are morphologically early type , but reside alongside spiral galaxies in color vs. stellar mass space . We test the idea that the majority of low-to-intermediate mass blue-sequence E/S0s may be settled products of past mergers evolving toward later-type morphology via disk regrowth . We find that blue-sequence E/S0s with stellar masses \leq 4 \times 10 ^ { 10 } M _ { \odot } have atomic gas-to-stellar mass ratios of 0.1 to > 1.0 , comparable to those of spiral galaxies . Preliminary CO ( 1-0 ) maps reveal disk-like rotation of molecular gas in the inner regions of several of our blue-sequence E/S0s , which suggests that they may have gas disks suitable for stellar disk regrowth . At the current rate of star formation , many of our blue-sequence E/S0s will exhaust their atomic gas reservoirs in \mathrel { \hbox { \hbox to 0.0 pt { \hbox { \lower 4.0 pt \hbox { $ \sim$ } } } \hbox { $ < $ } } } 3 Gyr . Over the same time period , most of these galaxies are capable of substantial growth in the stellar component . Star formation in blue-sequence E/S0s appears to be bursty , and likely involves inflow triggered by minor mergers and/or interactions .