While I am pretty cynical about artists recording songs that have become signature tunes for other artists, I relax those standards when it comes to Christmas music. Go for it, knock yourself out, have at it. Well, with certain exceptions. As Pam often tells me, traditional interpretations of Christmas music are often the best.
Here's a great example: Karen Carpenter, with one of the greatest voices of the later 20th century, singing a reverent arrangement of "Merry Christmas, Darling":
Update from my brother:
I will make a small correction since I am anal this way. This isn't just any arrangement but the original since Richard wrote the tune and orchestration for this and she was at that point the only vocalist to recorded this song. The lyrics are from Frank Pooler who was their choir director at CSULB.