Yes, you can.
You can do this in a variety of ways.
First off, just for ease of use, I would try products like Proscan
www.proscan.org or EasyStream
www.butelsoftware.com. None of those products specifically say that they work with the 895, but the communication protocol between the scanner and computer are identical (in terms of producing text tags) among the scanners supported and your's.
I would suggest downloading both of these products. Both provide a workable demo to see if you can successfully control or stream the 895. My bet is one or both will work. On the Proscan, I would choose the 780, probably the closest match to the 895 in the line-up. Additionally, both of these do cost around $50, but they also integrate a "built-in" audio server solution, negating the need for Shoutcast. They are an "all-in-one" solution for streaming channel info, etc.
If those don't work, or you're not willing to part with $50, then there are other solutions.
You can try using Oddcast
www.oddsock.org as your MP3 encoder, feeding an Icecast server
www.icecast.org. Icecast is very similar to Shoutcast both in operation and in config. Then you will need two pieces of freeware to "talk" with the scanner and feed text tag data to your server, Icecast. This will stream text tag data (MP3 metadata) to Winamp and iTunes, and also works with Quintessential Media Player. Although I don't like using media players I can't pronounce (nor spell) when drunk.
http://www.radioreference.com/forums/showthread.php?t=71443 is a short thread with the freeware and a bit more info.
No matter which way you decide to go, be prepared for the very sad day you have to say goodbye to your old friend Shoutcast. Shout is just not well suited for streaming text tags for scanners.
HTH,
Ryan