Yes. As a matter of fact, I smoked some Spam during Christmas. My wife and I were in the grocery store just before Christmas to buy a ham to smoke. While there, I spotted a display of Spam. I hadn't eaten Spam since I was youngster so remembering some of the posts on smoking Spam, I thought "why not." So I picked up a can and took it home and smoked it along with the ham. I don't remember the exact smoking time but the internal temp was about 170*. I simply put some of my favorite rub on it and put it into the smoker along with the ham at about 225*.
It turned out to be pretty good. It still had the distinctive Spam taste but was enhanced somewhat with the smoke and rub. I'm not a big Spam fan but the smoked version was, to me, better that the plain. I'd say that if you like Spam, you'll like the smoked version much more.