Yes, but not if you use the common feed list. You need to subscribe in outlook directly. Tools, Options, Other, Advanced to check the setting and disable it. Users report that it works if you add the feed by right clicking on the RSS folder to add, not using the Account settings dialog to add the feed. (I never use the Account settings dialog to add feeds). Also, some users report that duplication is more of a problem with these feeds. I haven't noticed a problem, but i only have one feed that requires a login.
Oh, i forgot to mention, you need to click Advanced button when you add it.