It's certainly possible, and any vector graphic format would translate better into SCI than bitmap formats. I'm not super-familiar with all that's possible with SVG, but I think you might need to use a restricted subset of the SVG spec or else use some clever algorithms to translate the graphics. Another consideration is the fixed screen size in SCI and the unrestricted SVG canvas.
Mokalus of Borg
PS - I suppose the biggest question is "Why"?
PPS - To some of us, the answer would only need to be "Because we can".