Yes! Smule recordings support the oEmbed format, which is supported by WordPress. To enable Smule embeds on your site you will need to add Smule to your embed whitelist by adding this line:
<? php wp_oembed_add_provider('http://www.smule.com/recording/*', 'http://www.smule.com/s/oembed'); ?>
to the functions.php file for your blog. You can also check out the WordPress embed support page here:http://codex.wordpress.org/Embeds#Adding_Support_For_An_oEmbed-Enabled_Site for more information.