My mom just made one. It is possible and it looks nice now that it's done, but I don't think she will ever do it again!
You cannot press your seams because you will flatten the seersucker, you cannot press your blocks because you will flatten it. Also, the "squares" appear to be the same from top to bottom and left to right but if you cut some of the fabric along the width and some along the length then sew them together, you will see that it is definitely directional!
I think the quilt looks darling but she was very frustrated in working with the seersucker.
Just be patient and try a block or two first before you dive in!