Heck yes! go for it but unless the OD is smaller than I think you'll need at least a 3 D12 cluster to lift it Clustered Odd Rocs OH Yea!
If it's the size of a 2 liter bottle than a single D will be fine. A hole saw isn't the best choice for cutting, a blade type (compass type) circle cutter will make a much more accurate and easier to fit&fill motor mount, stuffer tube hole. Yes it takes about a dozen passes but the hole come out SOOOO much rounder and smooth