Yes, it can be diluted and stored in a buffer containing 0.1% Triton X-100 or 100 μg/ml BSA. The preferred buffer is 50 mM KCl, 10 mM Tris-HCl (pH7.5), 0.1 mM EDTA, 1 mM DTT, 0.1% Triton X-100 and 50% glycerol. Diluent A (NEB# B8001S) can also be used.