Yes, this is quite possible. I would suggest setting up a virtual directory of some sort through IIS then in your href you could do something like this:
a href="http://mysite/virtualdirectory/somefile.xls" target = "new"
That will work to download the file, the user will just have to select open instead of Save if they wish to view it right then.
"The one language all programmers understand is profanity."