Sure!
But burning it to a CD and selling it is quite frowned upon.
Indeed. As is burning a purchased Clay Aiken cd for giving away to a third party. However, there are instances where burned cds of former downloads have subsequently been posted to the internet, then downloaded and burned to cd and then sold on ebay and then uploaded to a shared folder for downloading that have subsequently been burned to cd and then given away. That, I think, is permissible, though perhaps frowned upon by some. Or possibly just pursing of lips, not actual frowning. Subtle, yet important, distinction.
*dusts fingers daintily*