Of course.
Especially after the massive Linode NextGen upgrades, a Linode VPS can easily handle this kind of workload. Since it's a VPS and not merely shared hosting, you get root access and therefore full control over the system.
In addition, Linode includes features such as advanced disk image management that allows you to clone and resize disk images as required and quickly boot into different images, as well as an out-of-band shell that allows direct access to the server's console in the event you cannot access it via SSH. A Linode 1024 (1GB) plan is more than enough for this sort of workload.
There are lots of different VPS providers out there. Rackspace is very expensive but probably has the highest level of reliability (100% uptime SLA with 5% refund per 30 minutes downtime) and outstanding "Fanatical Support". For less critical needs, there are loads of smaller VPS providers that offer cheap rates, but often with only minimal resources and fewer features. Some provide super-fast SSD storage for disk-intensive applications. You should shop around and do your research so that you find a VPS provider that meets your requirements.