Yes! but not when he's still holding the ball, as Fulham Broadway say's
I've seen so many keepers holding onto the ball on their run up to launching the kick and then encroaching they are hold the ball outside the penalty area so long as there is at least 1mm of the keepers back foot on a part of the white line...to me it's handball.
But you're going to tell me the law has changed and they're allowed to do it, this and every aspect that they have changed is ruining the game, not making it better.
I think i'd better desist on this subject, before I get pulled to order, may we can have a thread regarding the laws of the game.