The story of how Israel got them is pretty interesting actually. Needless to say, it involves a lot of dirty deals and cover-ups with the U.S., Britain, France, Germany and, erm, Norway; and used pretty much the same smuggling outfits as the North Koreans and Iranians.
But yes, it is very hypocritical of Israel to keep them. Every country which develops, maintains and takes part in the production of WMD's (including, regrettably, my own) is immorally compromising international security for dickwaving rights (israel's program, in particular, further destabilised the ME by giving Arab States the impetus to themselves get WMD's). At the very least, Israel should give up the ridiculous "secercy" surrounding the program and join in international attempts to control proliferation.
But you see, Israel is a liberal, Westernized democracy! And
their nuclear program is only for self-defense!