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John, yes it can - to go to 357 SIG requires only a new barrel as the bolt face is the same for both cartridges. To 9mm requires a barrel , slide and magazines but Sig does sell exchange kits that include just the necessary parts. Doesn't look like they have it in stock right now: https://www.sigsauer.com/store/caliber-x-change-kit-p226-9mm-blk.html
John, Absolutely. Since the 357 Sig is a 40 S&W Case necked down to 9mm, only a barrel change is required. Sig has discontinued the (Sig Sauer P226 9mm Caliber X-Change Kit) but you may find one in the "For Sale" section at some SIG Forums or on large gun sites like (6)un Broker, (6)uns America and Armslist as hard to find firearms and accessories show up for sale by private individuals and small shops. Just replace (6) with G.
John - it can be converted, by purchasing the necessary parts ... Not sure it would be economically beneficial to do so. Best solution, as always, is buy another gun! :-)