This will be a year-long, if not decade-long process.
The UK will probably be reasonably ok on its own, I don't imagine things will suck too much for the UK after Brexit. So what would be the incentive for rejoining the EU?
Plus if the UK does decide it wants to rejoin, this time it probably will get 0 exemptions, or close to it. I think it might get some as it's a big economy and it's geostrategically important, but definitely not as many as it used to have.
Without a major external or internal shock for the UK, it probably won't rejoin the EU during our lifetimes.
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