yes this is possible.
if you are looking to IMPORT the data to sharepoint (i.e. export from SQL and import to sharepoint, so that if the data in SQL changes, it does not change in sharepoint), then just export your data from SQL to excel, and import from excel to sharepoint. that's the simplest method.
however... if you want a data connection from sql server to sharepoint, so that if the data in sql changes, the view of the data in sharepoint reflects those changes... then you have several options:
BDC
http://msdn.microsoft.com/en-us/library/ms563661.aspxData View web part (using Sharepoint Designer or Visual Studio)
http://office.microsoft.com/en-us/sharepointdesigner/HA100948041033.aspx (using Designer)
http://www.sharepointblogs.com/sam/archive/2007/11/30/developing-a-reusable-sql-data-viewer-webpart-for-sharepoint.aspx (using VS)
SQL Server Reporting Services: this is a feature of SQL server (assuming you're using at least Standard). the idea here is that you can create a report to display the sql data. if you run SSRS in native mode, you can simply link the reports to your sharepoint list using something like a Link List, or Page Viewer web part. Or, you can configure SSRS in sharepoint integration mode and use the report viewer web part (this option takes a bit of configuration to get it up and running).
