No,It's not possible.
To set XML file as layout in your activity you have that file in res/layout directory and also make sure it's id entry in R.java files.
Without keeping it in res/layout you can't apply it as a layout to your activity.
Basically when you put any xml layout file in res/layout then it's id entry created in
public static final class layout
in R.java files, And from there when you set that file as a setcontentView() of your activity or inflate it, the android nutshell make a view from that raw layout xml file and apply it to your activity.