Yes.
View > Header and Footer > Custom Footer
You type in the words "page" and "of" along with the spaces, and at the
appropriate points click the button with a # symbol to insert x (the page
number) and the button with two offset + symbols to insert y (the number of
pages), like this:
page
space
# button
space
of
space
++ button
Do File | Print Preview. Then click the Setup... button.
Then click the Header/Footer tab. Then click the Custom
Header... button. The # button puts in the page number,
the ++ button puts in the number of pages. The result you
can get is "Page &[Page] of &[Pages]". But you choose the
exact presentation.