Certainly. Shop around a bit, most headset manufacturers offer adapters to allow 1 1/8 steerered forks to be use with tapered headtubes. Most are simply a 1.5" crown race with a 1 1/8" I.D. so that it fits snugly on the steerer, yet has the appropriate shape and diameter for the larger lower cup and bearing. Just make sure you get one from your headsets manufacturer. Crown races usually aren't cross compatible.

Good Dirt

 

To add to what Squash said, Cane creeks makes this:
Cane Creek Conversion Crown Race -- Ibis Cycles Online Store

 

What headset do you have? I know for sure you can get a King crown race for a 1.5" lower bearing and 1 1/8 steer tube which makes for an easy transition to a tapered fork, just press on the right crown race. I believe you can do that with Cane Creek as well. That would be the preferable method as opposed to using an adapter from 1.5-1 1/8" for the lower cup to frame.

 

FSA makes them. You could also piece together your own. I have seen some with different bearings top and bottom built that way for say DH riding.

 

Seems all HS manufacturers have both HSs that can be used and adapters that can be used. Is this a new frame? If so, you could use a HS that is for 1 1/8 only, or a HS for tapered forks, but use an adapter for straight 1 1/8. If you think you may go to a tapered fork in the future, I recommend installing a HS for a tapered fork and using an adapter. I use an adapter on my frame with a tapered HT and HS (Cane Creek), and it works great.