Can η mesons have a magnetic moment?

The response of pseudoscalar and vector mesons to strong magnetic fields is studied within a simple constituent quark model using analogy with bound states of Positronium. Magnetic moments of charged vector mesons K*, D*, B* are predicted and it is found that η mesons have magnetic polarizability. In extremely strong magnetic fields, behaviour of J/Ψ mesons is discussed. We speculate on the existence of an induced magnetic moment of η meson.