Yes and No. Mercruisers are basically the same exact thing as a GM engine. However, marine engines are "said" to be built differenlty to take the higher, longer sustained RPM's. They are also supposedly equiped with brass freeze plugs and other things that are different than regular GM auto engines.
For example, a Mercruiser 350, V8 can be swapped with a GM, 350 V8 - short block - but it must be marine grade - not auto grade.
Don't forget, short blocks don't come with the heads, and require you or a mechanic to install the heads. You'r better off getting a factory rebuilt Long block if you're going to do the swap. Not that much more money and well worth it. Plus they should come with a warranty.