Yes, it's possible, but unlikely. 550 will be more like it. What mobo?
Expect 100-120mhz max overclock on the K6/2 series with 600 being close to max, give or take a little if it is a 2.2v chip. But, if it is the older 2.4v version, don't expect any more than 50mhz at best and 600 will probably be unreachable. The key to these higher speeds is lots of voltage and good cooling. Also, a good motherboard running good memory. Here is a little rundown of what I've had running and voltages:
K6/2-550@600 - 2.7v
K6/2-500@600 - 2.8v
K6/2-300@400 - 2.7v
K6/3-350@460 - 2.8v
All of these chips cores would not go any higher even with extreme voltages higher than these listed. I still have the K6/3-350 running happily at 450 using 2.7v and it's been there for a long time. I have used only GW FEP32's and ALPHA PAL6035 heatsinks on these to keep the temps down. The higher voltages will run the temps up quite a bit. The K6/3@450 runs around 35c-40c most of the time.
The K6/x series cores seem to have a sweet spot around 500mhz. More usually needs to crank the voltage way up. Then, after you find the max speed, they don't seem to run any higher regardless of what you do! I could not get my K6/3-350 up to 500 even with 3.1v and a peltier. It just would not go.
So, you will just have to play with it and see what it will do. Remember that these kinds of voltages may burn your chip so proceed with caution and don't be disappointed if it gets fried! I haven't popped one yet, but a lot of people have....... just keep it coooooolllllll.... 
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