Anything can be done with enough $$ but do you really want to?? There are a lot of tender spots on the underside that will need protection, the engine bay cooling comes from underneath bringing up all the dust and dirt. You will want to raise the car 6" or so for better clearance. The air intake is behind the front wheels so it should be relocated for clean air. Take a look at some of the Targa Newfoundland builds to get ideas:
http://www.targanewfoundland.com/drivers/cars/
Before you break out the cutting torch and diamond plate:
Drive a Cayenne. Amazing car on and off road.
Drive a Toureg. Down market Cayenne with VW badge.
Drive a Subaru. A lot of car hidden in that vanilla sled exterior.