Yes, it should be possible. Canonical is releasing a porting guide on Ubuntuwiki 22 Feb 13. I know this weekend end I will be working on porting it this weekend. I know Rabits will probably be working with it also.
Don't expect a whole lot as of now it is still in alpha stages of development. I was reading that the next few updates will be based off of 13.04, which should bring some improvements in speed and memory management. I have been running 13.04 on a laptop and it is a lot smoother and faster then 12.10.