yes you can.

1.2 License Grant for Media Elements.  The Software may include certain
photographs, clip art, shapes, animations, sounds, music and video clips
that are identified in the Software for your use (together "Media
Elements"). You may copy and modify the Media Elements, and license, display
and distribute them, along with your modifications as part of your software
products and services, including your web sites, but you are not licensed to
do any of the following:
 a.. You may not sell, license or distribute copies of the Media Elements
by themselves or as part of any collection, product or service if the
primary value of the product or service is in the Media Elements.
 b.. You may not grant customers of your product or service any rights to
license or distribute the Media Elements.
 c.. You may not license or distribute any of the Media Elements that
include representations of identifiable individuals, governments, logos,
initials, emblems, trademarks, or entities for any commercial purposes or to
express or imply any endorsement or association with any product, service,
entity, or activity.
 d.. You may not create obscene or scandalous works, as defined by federal
law at the time the work is created, using the Media Elements.
In addition, you must (a) indemnify and defend Microsoft from and against
any claims or lawsuits, including attorneys' fees that arise from or result
from the licensing, use or distribution of Media Elements as modified by
you, and (b) include a valid copyright notice on your products and services
that include the Media Elements.