It depends on what you consider honorable, and what the underlying motivations for joining the military are. If you want to "serve your country" as a noble calling, that's one thing. That has the potential to be honorable (though you know the adabe about patriotism and who its a last refuge for).
But as the advertising for the military, the recruting techniques and the reasons given for enlisting all attest to, if that was the primary makeup of the enlisted force, we would be looking at a military about 90% smaller than what it is today. Instead the majority are signing up for the PERSONAL benefits it gets THEM.
Now there is nothing wrong with personal betterment if you are fully cognizant of your tradeoff. But if either through willful ignorance or simple apathy you choose to benefit regardless of the suffering of others, then the "honor" in that is at best dubious. And what the military is good at - what its SUPPOSED TO DO - is to be the best at killling and destroying. And in the last 60 years, the US Military has been deployed ONLY against brown people, usually poor.
In the last 50 years, the US military has kept our oil prices down, but it has contributed very little to the safety of the borders, our ability to vote (as Carlin pointed out, it isn't really a right), or our ability to voice opinions.
Korea could be argued as a treaty obligation, but pretty much every "intervention" since then has been one of imperial adventurism. You realize that in the time that Hussein attacked 2 of his neighbors - both for very good cause - the USA attacked or invaded more than 9 nations, half of them our neighbors?
I just don't see much honorable about the modern military.