Can you use form_remote_tag to upload files?

I have the following form_remote_tag:

<%= form_remote_tag(:update => ‘target_lists’,
:url => { :action => ‘upload_list’ },
:html => { :multipart => true }) %>

I then submit using a regular submit tag

<%= submit_tag ‘Upload List’ %>

Does the Form.serialize call that is generated for the Javascript not
handle the file field?

Thanks,
Wes