Yes it can be done easily. If the barrel is two thin to tap and drill for the front sight it can be sweated (silver soidered) on. The rear sight also unless you want a Lvman or Williams reciever sight. I believe your M-700 is already taped for them.
Below is a picture of a Model 700 I put irons on. I use apeture sights so I put on a sight block on the front and Redfield target sights on the rear. Like I said the 700 is already drilled and tapped for the reciever sights.
