Cosmic rays can cause bit flips, but in my experience it is more likely to happen to electrostatic discharge or other electromagnetic interference of terrestrial origin. The odds of cosmic rays hitting your device is partially dependent on altitude.
There was a study done by IBM that indicated that a semiconductor based device could expect one such event every year. Other studies have shown that as the number of transistors in a device goes up, the chances increase. Just because an event occurs does not mean it will be visible. It could happen in unused memory, not affect a calculation significantly, etc.
I dug up an article written by some guys at Cyprus Semiconductor(complete article at http://www.edn.com/article/CA454636.html);
The interesting bit is this: "The potential impact on typical memory applications illustrates the importance of considering soft errors. A cell phone with one 4-Mbit, low-power memory with an SER of 1000 FITs per megabit will likely have a soft error every 28 years. A high-end router with 10 Gbits of SRAM and an SER of 600 FITs per megabit can experience an error every 170 hours. For a router farm that uses 100 Gbits of memory, a potential networking error interrupting its proper operation could occur every 17 hours. Finally, consider a person on an airplane over the Atlantic at 35,000 ft working on a laptop with 256 Mbytes (2 Gbits) of memory. At this altitude, the SER of 600 FITs per megabit becomes 100,000 FITs per megabit, resulting in a potential error every five hours. The FIT rate of soft errors is more than 10 times the typical FIT rate for a hard reliability failure. Soft errors are not the same concern for cell phones as they can be for systems using a large amount of memory."