Is it possible to build RubyGems with IronRuby?

I have been trying to build RubyGems with IronRuby with the latest
sources
over the past week, and it’s getting better each time, but not quite
there.
Has anyone else been trying this or been successful in building
RubyGems? Is
this a goal of IronRuby, or will IronRuby users also need CRuby to build
RubyGems and run rake tasks?

The current output from running C:\Users\rriley1\dev>ir.exe
rubygems\setup.rb is:

C:\Users\rriley1\dev\ironruby\src\IronRuby.Libraries\Builtins\KernelOps.cs:316:in
require': no such file to load -- rubygems (LoadError) from C:\Users\rriley1\dev\ironruby\src\Microsoft.Scripting.Core\Actions\CallSite.cs:288:inUpdateAndExecute’
from
C:\Users\rriley1\dev\ironruby\src\Microsoft.Scripting.Core\Actions\UpdateDelegates.Generated.cs:41:in
Update3' from :0 from C:\Users\rriley1\dev\ironruby\src\Microsoft.Scripting.Core\Runtime\ScriptCode.cs:84:inInvokeTarget’
from
C:\Users\rriley1\dev\ironruby\src\Microsoft.Scripting.Core\Runtime\ScriptCode.cs:76:in
Run' from C:\Users\rriley1\dev\ironruby\src\Microsoft.Scripting.Core\SourceUnit.cs:246:inExecuteProgram’