Anything can be done live-action if you have unlimited time and unlimited money. But it wouldnt have looked like the book and it wouldnt have kept the same emotion as the wonderful paintings that Chris illustrated. So I dont think it would have been as true to the book if it was done live-action.
Robert Zemeckis, Tom Hanks and Director Robert Zemeckis Discuss "The Polar Express", Rebecca Murrary, About Entertainment,