I don't imagine it would be very difficult, you just need to open a socket to listen/interact on and then open a file pointer/handler to /dev/ttyS0, piping keyboard input to /dev/ttyS0 and returns from /dev/ttyS0 to the socket.
You could probably do something like this in Perl fairly quickly.
I've done something in the past before with PHP and a web interface, but interaction wasn't real time obviously. It was more or less a "Issue command, see response" type deal.