Hang on...
Isn’t this why phones ‘ring’ so the recipient knows it’s for them?
Just a visual indicator on the phone... most IP phones already have ‘line activity’ LEDs anyway.
As for the original question, yes it’s entirely possible (need to know a lot more about your SIP sever setup), as well as the fact you’ll need to add some scripting in the server to scrape the traffic data.
Or the hard way - you could sniff the network, but why create a LOT of work for no practical end result.
Also remember, whichever path you choose, the inbound routing can change dynamically, so any solution has to understand that.