From Jeff:
"I believe you can. In fact, it's already been done by a surf-rock group called 'The Manatees'. You can sample one of their CD's at CD Baby, however the theremin is only lightly used on the album and heard only briefly on two of the samples: 'Beyond the Wave' and 'Rolling to a Stop'. They do a nice cover of Gary Numan's 'Are Friends Electric'."
I love this band. I've seen them live in Seattle several times. They bring back the whimsy and surfitude of the Ventures to the Pacific Northwest. Their lead guitar player is known for using his head to play the theremin while ripping out surf riffs on the guitar.