The answer is a yes and no. Marquee doesn't, as far as I know, allow any control. In fact, it's not a very good option, because it's outdated and not supported by all browsers.
However, you can achieve scrolling text using a number of Javascript methods. Then, yes, you could pause, restart, stop, etc.
I suggest just taking a look through the scripts in the DD library, and seeing if one of the existing scrolling scripts might work, with some adjustments.
The one thing you could manage with marquee and javascript would be to simply replace the <marquee> element with <div>, <p>, etc., then back again.
However, this would be a SIMPLE switch, in which it would just be either animated or not, and when it switches to not, it would jump to the "start", and then when it starts again, it would (i'd think) start at the beginning again. But the stop wouldn't keep it at a certain point.
Anyway, there are a number of scrollers that should work for you.