Probably not, if the bag is made for such a tiny camera as the Olympus OM-D E-M10 in combination with the Olympus M.ZUIKO DIGITAL ED 14-42mm 1:3.5-5.6 EZ lens.
In addition, there are umpteen 50mm from Sony and others. There is the tiny FE 50mm f2.5 G or the huge Sigma 50mm f1.4 Art. So what exactly are we talking about?