Is it possible to have more than one launcher Activity?

Yes, just mark two or more of your <activity>s as LAUNCHER within your manifest. In addition you have to set the android:taskAffinity attribute on both of your Launcher-Activities which specify the exact package and Activity to be started.

<activity android:label="MyApp" android:name=".MyApp" android:taskAffinity="com.example.MainActivity">
        <intent-filter>
            <action android:name=".MyApp"/>
            <action android:name="android.intent.action.MAIN"/>
            <category android:name="android.intent.category.LAUNCHER"/>
        </intent-filter>
</activity>


<activity android:label="Settings" android:name=".Settings" android:taskAffinity="com.example.SettingsActivity" >
    <intent-filter>
        <action android:name=".Settings"/>
        <action android:name="android.intent.action.MAIN"/>
        <category android:name="android.intent.category.LAUNCHER"/>
    </intent-filter>
</activity>