Carbines are great fun to shoot and the cartridge can be loaded up easily. So yes, if you can do it. Trick will be finding the longer barrel. Nobody, Stateside, is currently making 'em and the Carbine is on the Restricted for Export list. Criterion is thinking of making an 18.75" barrel though. CBI Direct is Criterion. There is a Canadian Criterion dealer. I forget who though.
http://criterionbarrels.com/barrels/m1-carbine
Don't think any are being made here either. Not exactly sure though.
Anyway, Epp's wants $150 plus the cost of the barrel. It's not a terribly difficult or time consuming job, but the smithy needs the right tools. Some of the short barrels are on there really tight too. Takes a bigger hammer to get 'em off.