It´s possible using the google generated embed code.
thats an html code you can past into your post.
but make shure you´ve got html in posts enabled
The problem is , that i thing Icy is blocking Iframes in posts.
I´ve just tested it on my site, and i only get the text<iframe></iframe> etc
so there must be some changes be made to get it working.
That's what I've also tested, with the same conclusions. Do you know what kind of changes may we have to do?