Yes, you can use a junction or symlink. I typically use junctions, but they work the same as far as I can tell.
http://www.howtogeek.com/howto/windows-vista/using-symlinks-in-windows-vista/You can use junctions or symlinks to change the location of any folder without your programs being any the wiser. For example, I didn't like my saved game folder being in "My Documents" so I moved the "Electronic Arts" folder to the "Saved Games" folder and made a junction in "My Documents" pointing to the new location. You can also right-click on the junction and make it hidden if you don't want to see it.