Originally Posted by qwertypunk
Absolutely possible. You can transfer your domain name any company you wish. Transfer of domain names usually cost one year registration price and also transferiring will add 1 more year to your domains. (i.e. you had registered it for two years plus one more year).
Also if you don't want to transfer the domain, you could still keep your domain with your old host and just change the name servers to that of your new web host.