Is it at all possible to use Google App Engine with a naked domain?

Question

I am working on a site for which I really want to be able to use a naked domain, e.g. example.com. Preferably, www.example.com should redirect to example.com, but that is not strictly necessary.

If I understand this blog post correctly, the reason why one can't use a naked domain is because then all subdomains will not work, which is normally unacceptable.

For now, I am okay with only the naked domain working, so is this possible? Would setting the CNAME record for example.com to the URL provided by Google work? Is there any other way at all to use naked domains?