It would also be pretty expensive.
You can convert VGA to NTSC with many devices out there; the problem is that you lose a lot of the resolution when you do it. NTSC specifies only 525 lines of total resolution and generally only 480 are visible. The idea of "resolution" is dependent on many other things including how the signal is carried to a monitor (component Y,Pb,
Pr/s-video/composite, etc), but needless to say, even if you did get a very good vga scan converter, the best you'd ever be able to reconstruct from an NTSC picture is probably 640x480
And that's just the image resolution problem. NTSC can't show as many colors as VGA. The color gamut is smaller. Here's an example:
The colors on the TOP row are the brightest hues that VGA can manage. The colors on the bottom row are the brightest hues that NTSC can encode. A lot of TV's perform gamut-expansion to make the colors appear less dull, but unless you get a very expensive upscan converter to convert NTSC back to VGA you probably won't get this benefit and, so, you'll lose some color information also. (As an aside, you can see that blue is the brightest color that NTSC can show. That is why most electronics blank the screen to blue!)
Still, if for some reason you need to do it, I'd recommend using a Cheese Video Box as the lowest cost NTSC->VGA upscan converter out there right now..