Yes but why would you want to???
Bring up the Control Toolbox toolbar (Tools | Customize | Toolbars -> check
Control Toolbox). The final icon on the toolbar looks like a Hammer and
Wrench. Click it to get a list of available controls. Scroll down to
Microsoft Office Spreadsheet and select. Your cursor will turn into a cross
hair which you can use to draw the spreadsheet onto your worksheet. Now click
on the first icon on the Control Toolbox which looks like a Pencil and Ruler
to exit design mode.