Hi,
Yes it is.
I find it easiers to do it as an material 'appearance' as opposed to applying a decal. I've recorded a screencast to show the process, basically you first measure the circumference of the sphere, then assign an image texture and making it a ratio of 2:1. then make the lenght going around the sphere equal the circumference.
In the middle step I change the projection from automatic to spherical, just in order to make sure the correct axis is used.
For the image, make sure you find a equirectangular image, that is exactly twice as wide as it is tall for best results.
Here's the screencast:
Cheers,
Thanks,
I had been missing the part about assigning the Texture Map Controls. I am good to go now. 🙂