Quick Answer? Yes.
However, it is not a simple load .MID file, click Save As and select .WAV, and there are much easier ways of doing it that with the software supplied with a VS-100.
The way you asked the question suggests that you are a beginner to this world of Audio Workstations.
Read this:
The link doesn't seem to work (although it previews fine - what is the point of a preview that doesn't preview? but I digress), but this is the URL that I was trying to link to -
Oh, I see. Not even the text of a link. Blow the post status. I hereby nominate this entire sire as "Not Helpful".
Google for "How Is a MIDI File Different From a Wav File?", you should get some useful links