Yes, and No.
Voipo would need to add your sip.yourdomain.com to their DNS, but you could use a CNAME record at ANY DNS provider you choose.
So at GoDaddy, you can use their DNS, point the A record to your IP at Hostgator, and a CNAME for sip at voipo. Alternatively, when you register the domain you can point it at Hostgators DNS servers, but have Hostgator add the CNAME record for you to point to Voipo.
I'm not a DNS expert by any means, so there may be a better way than this. A CNAME record will show the voipwelcome.com domain if a customer does a DNS lookup on your domain, so this isn't completely invisible.
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