Yeah its possible,
you can create stricture like below,
<MT_root>
<StatementName1>
<dbTableName action=”UPDATE” | “UPDATE_INSERT”>
<table>realDbTableName</table>
<access>
<col1>val1</col1>
<col2>val2new</col2>
</access>
<key1>
<col2>val2old</col2>
<col4>val4</col4>
</key1>
<key2>
<col2>val2old2</col2>
</key2>
</dbTableName>
</StatementName1>
<StatementName2>
<storedProcedureName action=” EXECUTE”>
<table>realStoredProcedureeName</table>
<param1 [isInput=”true”] [isOutput=true] type=SQLDatatype>val1</param1>
</storedProcedureName >
</StatementName2>
<MT_root>
since you are thinking at a time only one should be executed , so i suggest you to maintain createIF (node function) condition for <StatementName1> and <StatementName2>
Note: to maintain above condition you should have one identical field to differentiate which statement should be executed.