Yes. In SQL @005 and 2008 you use the SQL Server Management Studio (SSMS) to
conntect to your existing DTS Packages (under the Management >> Legacy node).
Right click on an existing DTS Package and select Migrate. The wizard will
walk you through creating an SSIS equivalent package. Note that not
everything is convertable and you should open the new package(s) in Visual
Studio/BIDS to see what the wizard created. You may need to do some manual
tweaking to get it to work.
I suggest you store your new SSIS Packages in the MSDB database (it's one of
MCTS SQL Server 2005