Hi JRay,
I've seen photos of a reversed head XS650 motor right on this site so yes it's possible. (That, or it was the best photoshop fake ever.)
But why, eh? Why?
Or why stop at reversing the head? Gut the transmission, fit a variable swash plate hydraulic pump in it's place and lace two rims onto rotating case hydraulic pumps to get two wheel drive with infinitely variable gearing in forward and reverse.
Ideal for those who can't get along with shifting gears and using a clutch.
And for those who are happy with shifting and clutching but don't get along with electricity there's the XS650 Diesel conversion with acetylene lights.