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No, this song doesn't feature in the movie. The song Alita sings in the manga is only inspired by Big Generator, the words themselves have been altered and it's unclear if the tune sounds similar or not.

wikipedia has a website for this movie, this is copied from their website

Planned sequels James Cameron and Robert Rodriguez have hinted that the film could lead to multiple sequels. On February 6, 2019, they announced that they have plans for Alita: Battle Angel 2 in the future. The casting of Edward Norton in a non-speaking role as Nova in this film was intended to be a setup for the sequel. Additionally, the uncredited cameos by Michelle Rodriguez and Jai Courtney were meant to set up larger roles in a sequel.

In April 2020, Christoph Waltz stated that he had not heard any discussions about a potential sequel to the film, and thought the possibility was unlikely following Disney's acquisition of 20th Century Fox as it may not fit in with the Disney culture. However, in January 2021, the director Robert Rodriguez said that he was hoping that a sequel to the film would be made. Later on, during an interview with "The Nerdy Basement", Rodriguez claimed that he would try pitching an Alita sequel if The Book of Boba Fett series, directed by him, succeeded in "knocking people's socks off".