For me personally, I would say yes only in the case that there's explicitly no mutual physical attraction. Such as both parties already being in committed relationships, the other person is gay, etc.
That said, with me being engaged, I would feel really weird meeting up with a hetero male friend alone for coffee, to a movie, grab lunch, go shopping, the way I do with female friends. And I would feel uncomfortable if my boyfriend were hanging out like that one-on-one with a girl. Whether that's good or bad I can't say, but that's how both of us feel. I've only ever had hetersexual male friends when I've been unattached and with that dynamic there always seems to be an underlying, flirtatious tension.
The male friends I do have are the significant others of my female friends and I certainly wouldn't ask one of my friend's boyfriends out alone to grab lunch with me.