Beating England was one thing but imagine if Iceland were to follow that up by knocking out host nation France in the final quarter-final of Euro 2016.
Well, for one thing, the possibility of a Wales-Iceland final would remain on the agenda.
As Iceland prepare for the biggest game in their history against a France side hoping to build on the momentum of the second half against Ireland, no one will dare right the Nordic nation off again.
Icelandic football journalist Kolbeinn Tumi of the 365 Media Group believes complacency of other teams is definitely not the reason why they've got as far as they have.
"It shouldn't have been a shock but we also have great players and they're great teams. We beat Holland twice in the qualifying group. We were the first team to beat Holland at the Amsterdam Arena so there were so many times that the other teams could have seen what was coming for them. But I don't think it's about that," he told Off The Ball's Nathan Murphy.
Iceland fans cheer on their side from the stands. Picture by: Nick Potts / PA Archive/Press Association Images
"I don't think the other teams are coming in thinking 'hey, it's going to be an easy game against Iceland'. The Iceland team is strong so I think the talk about everybody underestimating Iceland, I don't think that's necessarily the case.
"We have quality and we have taken our chances. We've been in some cases lucky like with distribution of yellow cards and such. But we have nine players on a yellow card before tomorrow's game. But we also say you create your luck and there's great atmosphere with the team and with the crowd. You see that after every game."
Tumi added that the small stature of the nation population-wise means the players can identify a large number of people in the crowd which increases the sense of togetherness when celebrating.
"Without thinking, everybody ran to the fans because their mum was there, their dad was there, their little kid was there, their wife was there, their friends and groups of friends. The scenes are true. It's a very special occasion," he added, also explaining that almost 100% of people in Iceland have been glued to the team's exploits as the fairy-tale unfolds.
And Tumi also suggests that "we have more in our goody bag to surprise the French" but feels managing energy levels will be key after France overcame Ireland's early storm.
"I think [Iceland] had three scouts watching the France-Ireland game so they'll have learned something from that for sure," he said.
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