It's possible to an extent. The disassembler being used is a commercial product called IDA from Hex-Rays [1]. They also sell a decompiler plugin for IDA. While it can generate C-like output, it being 'readable' is debatable. Because of the lack debug symbols, compiler optimizations, and other things in release binaries, the decompiler output has some confusing characteristics. Just to name a few things: improperly guessed calling convention, odd code flow (lots of goto statements, labels, and inverted loops), messy dynamic string creation [2], bit shifts instead of multiplication/division for powers of 2, pointer arithmetic to access struct fields, stack variables reused for multiple purposes, etc. With all that being said, the Hex-Rays decompiler is the best I've seen so far. It's great to have when you want a quick overview of a function you are reverse engineering, if you or your company is willing to pay the exorbitant cost that is.

Additionally, there is open source decompiler called Snowman [2] that is pretty neat also.

[1] https://www.hex-rays.com/index.shtml [2] http://reverseengineering.stackexchange.com/questions/3546/e... [3] https://github.com/yegord/snowman