Is possible to reverse an embedded ARM linux u-Image?

[chrgu000]

All,

I am reversing an emdedded device, which is based on ARM Linux. I have dumped full flash image from the device, and extracted the files from it's file system. Now I found some encryption alg. of this device is compiled as static driver mode, e.g. these algs are in the uImage file. As you now, uImage is not in ELF format, I can use Hex editor to find some useful strings in the uImage file, so my question is : is it possible to disassemble the uImage with IDA or some other tools? If it is not possible, how can I reverse it?
P.S. Is there some useful links for this topic? I have Googled for a long time, but nothing seems help to me.

Thanks very much.