Run Minecraft Server using OSX Lion Server?

Is it possible to run a Minecraft server using an OSX Lion server? I know that this is a very basic question.

Yes. You don't even need to have the Sever edition of Lion. Here is how:

Download minecraft_server.jar from the Minecraft website
Open terminal and paste the command listed below (there should be a space after -jar
Drag the minecraft_server.jar into the Terminal window and type nogui. Then hit enter. Your server should start up.

Read this article on the Minecraft Wiki for more information.

java -Xmx1024M -Xms1024M -jar

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