It can be done with a huge amount of modding and work. The stud bolts would have to be relocated to work with the bigger cylinder. The engine cases would have to be bored also and then have to come up with some kind of water pump prevision. Oh don't forget you'd have to use the watercooled head also. Bu t i really don't think the 110cc 3 plate clutch setup would hold up though.
More powerful than a 110cc for sure! More power than a 150cc and bigger i guess that depends on the build. In theory it should be. I think the cost of the build really wouldn't make it practical. Unless you have the parts lying around and can weld aluminum.