Yes, it is. I use sqlite-wince port (you'll find on http://sourceforge.net). It compiles with eVC++ 3.0 and 4.0 successfuly. I also compiled it using Intel compiler for Windows CE (formely, for embedded VC++).
Greets
-- Mateusz Łoskot, mateusz (at) loskot (dot) net Registered Linux User #220771, Debian (Sarge)