SIO2Bluetooth possible?

I'm not the sharpest stick in the pile but I'm wondering if it might be possible to use this module to create a battery powered SIO2Bluetooth adapter:
http://www.adafruit.com/products/1588

I think it would work like a serial SIO2PC module if I'm understanding this properly. A wireless connection to AspeQT would be awesome if this is possible!

Does anyone who actually knows this stuff (unlike me) think it could work?

Thanks for your help,
Greg