As said it's been done by many folks. I'd probably want do it to a steel framed Bearcat if it were me just for extra measure. They started life in the late 50's with alloy frames until the old model Super Bearcat came along in 1971 with it's steel frame. What the new model Bearcats convertibles have that Ruger supplied with both 22LR and 22MAG cylinders in 1993. The problem with those was not the frame though, it was the out of battery misuse possibility that lead them to discontinue them.
Don't have any of my early alloy Bearcats anymore, do still have my 1971 Super Bearcat I bought new. But it shoots so well as a 22LR I'd never alter it.