how to change a script while it is running

[faxme]

Hi, I would like to know if it is possible to change code on the fly on a 
python interpreter. I want to have a python script running a multithread 
server and be able to connect to this python script and change the 
interpreter environment. Is this possible?
Ideally i would like to call python, load the script inside the python 
command line and while the script works still be able to type other python 
commands(that might change the running script).

Thanks