well, it's possible because Google does it for model objects in the external Warehouse application.
There are high-end applications which do this for sophisticated 3D environments created in 3DS Max, Maya, C4D, etc.
But your best bet is probably creating QuickTimeVR objects you can embed on your webpage. You'll just need to export multiple still-image views of your SketchUp model(s) to create the interactive VR panorama.