Yes, it can be done. It is one hell of a pain in the ass, and you are going to need to be able to have both cars inoperable for a while... but you can do it. What you will have to do is take EVERYTHING from the donor car. Not just the motor and turbo assy, but the computers, wiring bundles, fuel pump, etc. Swap over anything you can, and label everything before you take it off. I bought a couple of disposable cameras before my engine swap and took a ton of pics of the engine and engine bay. That way when you get frustrated you have a pictorial diagram of what to do. I would also highly recommend coughing up the 25 bucks apiece for the Volvo wiring diagrams. THey are lifesavers. Good luck, let us know how it turns out!
-Aaron