Supposedly.
I'm trying to accomplish it myself, and my research brought me here.
It might help you to know that there is old version of VLC compiled and waiting for download on
Nekochan. (Scroll down to vlc_071.tardist )
I don't remember why, but i don't believe this worked for me however. I'm in the middle of trying to install all the Irix development libraries so i can try to compile the VLC code. Its slow going...
I'd love to hear if anyone has any experience of their own with VLC on Irix. E-mail me at webguy at excel dot net.
Good luck,
~b