As a phone line for an actual dial-up modem, no a cell phone won't work. Landline telephones transmit voice as a raw analog signal. Cell phones use a codec to compress the sound into a digital data packet before transmitting. Usually compressed down to the equivalent of about 8 kbps on modern phones. You're never gonna be able to connect to a 56 kbps dial-up modem like in the dial-up days (granted I'm old enough to remember 300 and 1200 baud modems). VoIP phones have the same problem when you try to use them with fax machines (which are essentially dial-up modems connected to a scanner/printer) - you won't be able to connect a fax machine to a cell phone for the same reason.
However, if your smartphone has a data plan, there are...