Can A Midsummer Night's Dream be set in space?

Methinks someone has been watching Family Guy. Or dropping acid.

But why not? Make the fairies into aliens! Aliens would probably be easier for modern audiences to take than fairies anyway. I think this is a great idea without watching Family Guy or dropping acid at all. I want to see it.

It's worth noting that the film Forbidden Planet, made in the '50s, is Shakespeare's play The Tempest set in outer space.