Unfortunately, no. SpeechExec requires this .xml file to store, interpret and manipulate the dictation properties such as Transcription State and Author. It will also send both the dictation and the .xml files when using email and FTP. If you delete the .xml file, SpeechExec will create a new one when it accesses that dictation again.
Verification Source: In-house testing
Test Date: 04-12-12