Is it possible to use Soundcloud as a Podcast host?

Yes it is. 
If you have a Soundcloud account, you can use Soundcloud for publishing your Podcast.
Soundcloud has a description of how you set up your account for Podcasts.
It also describes how to make your Podcast visible in iTunes. 

From Hindenburg to iTunes with a single click.
Hindenburg has a Publish feature. Set up your Soundcloud account and publish to your Soundcloud account. 
If your Soundcloud account is set up for it, then your RSS feed will be updated and your show will be ready for your listeners. 

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