Yes its possible. But remember that the perspective projection of a sphere is actually an ellipse (see this explanation.

Image 1: A isometric spheres (left) projection is a circle. In a perspective that projection is actually an ellipsoid.
First find the approximate center draw a approximate sphere (tip holding space lets you move center) then rotate the sphere to cardinal direction and scale it up a bit. Takes about 2 minutes to be almost accurate once you've practiced. This is by far more accurate than trying to eyeball the settings for 3D Rotate or 3D revolve.
Finding the projected ellipses major axis
The major axis of the ellipse is oriented towards the center of your perspective or simply the one point perspective vanishing point.

Image 2: The major axis of the projected ellipse
... How do i draw this? ... sorry must go again