You could probably pull it off in terms of special effects on a big-cable-TV-show budget, probably not network. You'd have to make sacrifices, but with some trimming it could probably be done.
The rating is the problem, though, a majority of the stuff in the books you're definitely not getting away with on network television. Stuff like HBO and Netflix fixes that particular problem (though I can't see them doing it without ageing the kids up significantly and ruining it that way), but they're pretty unlikely to ever want to do it.
