Can one have a static IP wired network connection with failover to wireless?

[Chris Green]

I have a small server system on my home LAN running Ubuntu 12.10, it has
a static IP (in the 192.168.1.x range).  It has a hard-wired Gigabit
ethernet connection but I would like, if possible, to make so that if
the hard-wired ethernet is lost for any reason (e.g. I trip over the
wire, some one else vacuums it up, etc.) then the wireless connection
can take over.

Is this possible with a static IP?

-- 
Chris Green