Android PDK is built with standard make so it is possible to setup Eclipse to compile it. The only trick is to use C++/makefile project instead of generic makefile project. For some strange reason error parsers for generic makefile project do not work so as a result you can only see console output of the build and not errors / warnings.
To setup package (or the whole PDK) to build in Eclipse
As a useful addition you can add path to your sources