Yes, if you mean the SQL, but you lose any further drag and drop ability.
With a copy of a report open, select report > query from the menu bar, click on the 'profile' tab and then the SQL radio button. Holding down Ctrl-Alt-Shift, click on 'Edit' box. You'll now have a 'Magic SQL' window in which you can cut and paste your SQL.
soi la, soi carré