Is the fitting going to be either holding pressure or under liquid? If either of those are the case, it won't work. If there's going to be any stress on the pipe, it won't work. If it's just a place to dump in fluid, maybe. If you don't have a bulkhead fitting handy (and who does?), you can cut the threaded end off a ****** and weld that on. Don't try to weld a regular pipe fitting on, though, as they're almost always cast.
Also, never try to weld on anything that's going to be holding above atmospheric pressure. The weld needs to be perfect, and the steel needs to be properly tempered or you'll have a brittle area that can fail with very bad results.