Snopes.com says "oh yes!" and gives some great justifications for the answer.

Teens want to believe that they cannot get pregnant the first time they have sex, usually because first sexual intercourse is not planned. But there is nothing special about "the first time," as many teens will tell you.

Whether a person gets pregnant or not depends on whether one of the 200 million sperm "hook up" with an egg somewhere inside the woman during the days that follow intercourse.

Yes, I said days — sperm can live for days inside a female, just waiting for the egg to be released from an ovary.

If sex may be in your future, talk to your partner about their previous STD risks, carry condoms, know how to use them, and start on a reliable method of birth control about a month earlier. Be safe!

Remember that Snopes.com: Rumor has it is a great place to check things out that just sound bizarre.