i dont think you could do that very easily - its a bad shape for it, and also the little arm thing for the wastegate needs to be unobstructed.

but its definatly worth getting ceramic coated or otherwise insulated.

you have to consider that your brake booster is just above and to the left of the turbo, when running a turbo hard it can easily get RED hot... and then your brake booster will melt .. this is a bad thing, ceramics prevent the head from exiting the turbo, thus making your zorst gases basically more hot.