Yes, absolutely you can. However, please remember that if your sponsored position does not work out as planned and you have to leave your job the permanent residency visa application may not progress to grant before you are required to depart Australia: if a 457 visaholder leaves employment there is likely to be a finite period before s/he is required to leave the country.
Also, check whether a permanent employer sponsored visa under the Employer Nomination Scheme or Regional Sponsored Migration Scheme is possible now, rather than a temporary 457 visa.