The answer to your question is a resounding yes! The easiest way to connect an iPod to this system is by using a stereo audio cable. One end (male 3.5mm) will plug into the headphone jack of your iPod, and the other end (dual RCA male) will connect into an available red and white audio input on the back of the Bose system.
If you need any assistance with getting this set up, please contact Bose Product and Technical Support at 1-800-711-5772 - 8:30AM-10:00PM M-F, Sat 9-7:00 EST.
Thank you for the question!