console over modem?

I have a soekris hanging on the wall in the basement. Not very
amenable to connecting a serial cable since I don't have a portable
computer with a serial connection.

I was wondering about the feasability of connecting an old Hayes
external modem to the serial console on the soekris and then
connecting to it via a phone line and modem on the computer. Can
anybody tell me if this is possible or give me tips on configuration?
I could run a dedicated phone line between the two modems (preferred)
or connect them through the pbx if necessary.

db