Yeah, you just add some stuff to the admin directory in the cvsroot.
http://cvsbook.red-bean.com/cvsbook.html#Commit_Emails
I set this up for our dotlrn cvs tree which just spams a simple .qmail
list with all of 3 static users. However, I've never set up a fancier mailing list so I don't know how much work, setup and admin, that will be.