It is possible. You need to remember that in a modern mobile phone, there are
two high powered processors, the baseband processor and the application processor, communicating only over a very very high level protocol. The application processor runs Android or iOS (or Windows Phone), the baseband processor a propietary RTOS or similar embedded system.
The problem boils down to this: baseband (the chip doing the GSM, LTE, .. communication) processors are completely propietary. There is no source for the software running on them, it's a big binary blob. And the other big problem is that baseband processors have become a hub for any analog processing. They run the GPS chip and they are the DSP for the microphones. Combine access to all vital systems and the primary communication link, and business practices in the big, sometimes partially government owned, companies producing the software for these chips.. it makes for an explosive mixture in a "mobile first" world.
Recommended talks:
http://vimeo.com/25806106
http://www.youtube.com/watch?v=e1lYU0VMCoY