Yes… first scrape off any peeling paper, then spackle the edges, then prime the entire wall or ceiling using ONLY Pigmented Shellac Sealer Primer… then finish coat with a high quality paint like Sherwin Williams Classic-99 Latex…
I would not suggest painting over any papers of any kind. With a semi-gloss a lot of times it will bubble or peel off after you paint I have had customers have me do this but I did it with a flat paint and a couple coats and didn't have any problems but as for the long term affects I left that for them to find out because that was how they wanted it done.
I would try and remove the wall covering if you can. Some wall paper tends to bubble if you paint it. Use a wall paper remover spray it on with a bottle and let soak for the time stated on bottle. then scrap it off. You'll want to use Kilz to prime with after. Good luck