Default Splitting the 3.5mm jack with microphone and speaker output - possible?

Hi All,

I was wondering if the below scenario is possible with any android phone.

- Plug a 3.5mm splitter into the audio jack (two female ends)
- Plug a speaker system (headphones, whatever) into one split port
- Plug a microphone into the other split port

Would the phone play audio (music, etc) through the headphones normally? If someone were to call, would the voice on the other end play through the headphones and the microphone work for me to talk to them through?

Thanks!

EDIT: Since the response has been overwhelming I went and tried the method above. Works perfectly. Thanks to... me *self high five*.
"The best part about the internet is you get to see everyone's childish tantrums first hand."

"If only the internet allowed me to punch stupid people in the face. Then people wouldn't vomit their idiocy onto my monitor."