It is possible

In the live stream properties go to Archiving and enable the WMS
Archive Data Writer.

Double click the WMS Archive Data Writer and specify the location where
you want the save the live stream. Don't forget to enable the "start
archiving when publishing point starts" button at the top

Now create an on-demand publishing point and use as source the file you
specify in the live stream archiving

Good luck

Giovanni http://www.qstream.nl