It did not take long for Blizzard to release a statement about players using cheats, exploits, or hacks in StarCraft II. If a player is found to be cheating or using hacks, this player will be permanently banned from StarCraft II which means that he will be unable to log in to Battle.net and therefore unable to play the game with his or her account.

Here is the official statement by Blizzard regarding this issue:
Blizzard Entertainment has always taken cheating in any form in Blizzard games very seriously, and that's no different for StarCraft II. If a StarCraft II player is found to be cheating or using hacks or modifications in any form, then as outlined in our end user license agreement, that player can be permanently banned from the game. This means that the player will be permanently unable to log in to Battle.net to play StarCraft II with his or her account.

Playing StarCraft II legitimately means playing with an unaltered game client. Doing otherwise violates our policies for Battle.net, and it goes against the spirit of fair play that all of our games are based on. We strongly recommend that you avoid using any hacks, cheats, or exploits. Suspensions and bans of players that have used or start using cheats and hacks will begin in the near future.

You can help Blizzard in banning cheaters by clicking on this link