Yes, with a custom kernel.
A list of standard USB DAC reportedly interworking with a custom Android-powered tablet Asus/Google Nexus 7:
custom Google Nexus 7 > digital USB audio out >> USB OTG cable (micro-A plug inserted in the Nexus 7) >> standard USB DAC >> amp >> headphones
Thanks, I've never owned an android device but it should be fairly straightforward.
Trying to decide on the Nexus 7 or 10, and whether or not to replace my iPhone with a Nexus 4.