Yes, with the V9 SP7 release and later, you can take advantage of the VMware datastore exclude capability. Page files are a great use case for this feature.
You can set criteria to exclude all the virtual machines from a specific host or a cluster. For example, if you do not want to backup the virtual machines from Host A, you can define a filter to exclude all the virtual machines from Host A.
The steps to define the filter are as follows:
From the CommCell Browser, navigate to Client Computers | <vCenter Client> | Virtual Server | VMware | defaultBackupSet.
Right-click the subclient and select Properties.
Click the Filters tab.
In the VM Filters area, click Browse and select a host or a cluster. Click OK on the Browse dialog box. OR
In the VM Filters area, click Add. In the Add VM Filter dialog box, select Host and enter a host name which appears in the vCenter or IP address of the host. Click OK.
The VM Filters area then displays the host name or ip address of the filtered Host.