Routing Different Subnets over 2 Subinterfaces of a Serial interface

HI.. Friends..
I have one doubt regarding Routing..
Suppose I have a Non Production Environment having 2 Peer to Peer (or Point to Point) Serial Wan Connection between 2 Cisco Routers..
And I want to Route Two Different Subnets (Say 192.170.10.0 and 160.10.10.0) on 2 Subinterfaces of Serial Interface on both Routers
That is,, I want to enable routing of 192.170.10.0 Network on 1st Subinterface and 160.10.10.0 Network on 2nd Subinterface on both the routers.
So, is it possible or Not… and why?
And if not possible.. then how to do it..

Thanks to all in advance

Bhavan G. Desai