is possible, several people do.
But you can also use b3d format, possibly better , more powerful, and less problematic option (tho the rogerborg advice is perfectly good, many people make all content using x ). There's an amazing Blender script for that (first you need to learn how to copy and execute a python script in blender. (basically put in scripts folder, and depending the case, may require or not refreshing the the scripts folder in Blender's UI preferences, and/or executing it opening in the blender text editor, and then hitting alt+p))
For the great plugin, go here:
http://www.gandaldf.com