Replace Hard Disk in Laptop

My laptop is running on Pentium II.
Toshiba Satellite 4060XCDT.
It is a model that plays only CDs and not DVDs.
Is it possible to remove the hard disk or local drive
and replace a higher grade drive for the laptop to:
play DVDs, have more memory so it can work at
a faster pace?
Hope this is not a silly question.
thanks, ben