Even though I never did it before, but yes. I believe it should be compatible. It's the reason why SONAR has an option to export/import it to OMF. Compatibility issue. Why don't you try it out for us here ?
Just remember what is and isn't saved in an OMF file... Check out this link to see what is and isn't saved.
This is an extract from the page.
The OMF file supplies the following data and information:
Tracks.
Clip positions—an OMF file's EDL edit resolution can be either frame accurate or sample accurate. SONAR can read either, but always writes sample accurate. The clip position is specified in absolute samples.
Slip edits.
Fades and crossfades (as destructive edits)—SONAR renders any fades when it writes OMFs, creating separate clips for any fade-ins or fade-outs. SONAR slip-edits the original clip to make room for the fade-in and fade-out clips. If you export to an audio program that supports slip editing, the user can delete the fade clips and roll out the original clip to return to the original raw audio (without fades) if desired.
Sample rate and audio bit depth.
The OMF file does NOT supply the following data and information:
Volume and pan envelopes—OMF does actually support limited automation. However, as with Nuendo and most other OMF host programs, Gains and Pans are ignored (on both read and write) in SONAR as they are only supported on MONO tracks (OMF limitation).
Plug-in effects.
MIDI data.
Tempo.
The rest of the page has info on how to import and the link down the bottom show you have to save etc. It does refer to Pro Tools, however OMF is a 'common' format across all platforms... or you would hope.