Yes, SSRS will connect to an Oracle database, along with lots of other sources detailed here: http://msdn.microsoft.com/en-us/library/ms156450.aspx
answered May 26 '10 at 05:08 AM
The quick answer is yes (see link below).
One thing that has caught me out in the past is executing SPs within SSRS. See the 2nd link
answered May 26 '10 at 05:10 AM