Yes it is.
CE2_GM_875#sh crypto gdoi group GET | s ACL
ACL Downloaded From KS 0.0.0.0:
access-list deny ospf any any
access-list permit ip any any
CE2_GM_875#ping 172.16.23.3
Type escape sequence to abort.
Sending 5, 100-byte ICMP Echos to 172.16.23.3, timeout is 2 seconds:
!!!!!
Success rate is 100 percent (5/5), round-trip min/avg/max = 8/10/16 ms
CE2_GM_875#sh run int tu0
Building configuration...
Current configuration : 122 bytes
!
interface Tunnel0
ip address 172.16.23.2 255.255.255.0
tunnel source Ethernet0/0
tunnel destination 192.168.3.2
Please take care of routing, you do not want to introduce recursive routing.