By "newer" I'm guessing 99+. If that is the case, then yes, it can be done and it has already. I will be attempting to install a 383 in mine when the time comes.
The only thing is that some of your stock gauges may not work. I swapped a carbed v8 into my S-10 and the speedo did not work. Dakota Digital sells pulse counters that you can use to make your stock speed work. I just swapped in a full Digital dash.