It's certainly doable. The pump appears to be a very high quality 3-5hp model. You would need the motor, the correct size pulley, a pressure switch and possibly a magnetic starter. Since you are leaving the unit outside you would need all of that to be rated for outdoor use or build some sort of weather protection around the thing. The mag starter should be used with a 5hp motor but if you just use a 3 hp motor then it wouldn't been needed. On the cheap end I could see this being done for maybe $350 ($200 3hp motor, $150 for a pressure switch, pulley, wires and other fittings). However, it could cost more if you have to buy additional small stuff (crimp connectors for the wires, etc). My cost doesn't include wiring from the building to the pressure switch. I could also see you spending well over $1000 if you get an outdoor rated 5hp motor, weather proof mag switch etc.
Also, because a gas compressor is meant to be rotating even when the air isn't needed, you would have to figure out how to disable the idle unloader.