Yes. It is possible to do it. Follow the below:
1) First, purchase any good GSM sim based FWT (GSM Fixed Wireless Terminal) or CDMA sim based FWT.
NOTE: The GSM/CDMA SIM should be based FWT (Fixed Wireless Terminal), but not FWP (Fixed Wireless Phone).
2) You need RJ11 based output with dial tones.
3) Then, insert the RJ11 based output in your PC internal/ external Voice/ DATA/ Fax modem card.
In case you don't have the internal sound blaster card, then buy the new one.
4) Now download any software, for example phone dialer, to receive and make the calls. Then, install it on your PC.
Now, you can make and receive the incoming and outgoing phone calls through PC.