Networking Phone

This may be stupid but this idea popped into my head and I trust you people more than a Google search. I am forever missing the phone when it rings because I am at my desktop and don't hear it over my headphones. Since I live in the middle of the country we have a home phone. My old desktop in the basement, can connect to my network and has a phone jack. Is it possible for me to run a phone line to it and network the phone so I could use it on my main desktop?

Thank you in advanced.