Well, with all the crap comics they make into films this would be like "The Lord Of The Rings" of Comics in my opinion. 
Sure, but it would be expensive, with not much of a potential audience to make at least a little bit of money.
And then I don't know if it would work as a movie, even with a good director. Following it closely, it would still be completely the work of Giraud, which should tear away creative directors.