EDIT
Personally, I have not tried, but according to the Android System Requirements page, it is unsupported. That said, it does not mean that it wouldn't work, just that you are unlikely to receive much/any help on the subject from Google/Android.
JDK 5 or JDK 6 (JRE alone is not sufficient)
On a potentially positive note, (found with the help of @Emil H and his comment) I have found these bit of information online:
From Dalvik on Wikipedia:
Programs are commonly written in a dialect of Java and compiled to bytecode. Then they are converted from Java Virtual Machine-compatible .class files to Dalvik-compatible .dex (Dalvik Executable) files...
If the bytecode doesn't change from version 6 to 7 (excluding the added invokedynamic
mentioned by @David Schwartz, which switch
statements should not be using.), then it should work...