Their terms of use explicitly forbid deriving maps from the data. I think OSM is big enough to be a threat to Google Maps and I can see no way they would relax that permission for OSM. See in particular clause 2(d) of https://www.google.com/intl/en/help/terms_maps.html

Where organisations have given access to imagery, they either do not have a commercially exploited mapping product, or they see an OSM layer as something they might include in their mapping product to help them compete with Google Maps.

Remember that Google is very much money driven and is very much an intellectual property based business.