It is my opinion that taking that verse out of context to change the meaning is extremely problematic. The wages of sin do not belong to the child of God. The entire chapter is crucial to understanding - also the next two chapters, especially chapter 8.
Certainly, when we were in sin we were worthy of death, yet now we are His and the wages of sin holds us no more as we have the gift of God, eternal life through Jesus Christ (Rom 6:23). Those that are in sin won't see eternal life, but eternal torment, and yes, they will address the wages and the separation from God.
In the very same chapter that Paul talks about ours and his spiritual position, he goes on to talk about his choices as far as his physical body goes. Yes, the saint has more choice power than many even realize even over bodily death. BTW, satan has NO power over the child of God unless he/she allows such by not wearing God's clothing.
Philippians 1:21-25 (KJV)
21 For to me to live is Christ, and to die is gain.
22 But if I live in the flesh, this is the fruit of my labour: yet what I shall choose I wot not.
23 For I am in a strait betwixt two, having a desire to depart, and to be with Christ; which is far better:
24 Nevertheless to abide in the flesh is more needful for you.
25 And having this confidence, I know that I shall abide and continue with you all for your furtherance and joy of faith;