Yes you can incorporate pesto into pasta. You can incorporate pesto into almost anything, cakes, brownies, chilli, soup, rice, all your mother sauces, :) LOL, of course you gotta use your judgement. You can also incorporate almost anything into pasta!
On a more serious note, the answer is a resounding YES! You can incorporate pesto into your pasta. Bear in mind that the protein structure will be compromised with the addition of the oil. And no, oil is not a substitute for water in pasta dough. The starch granules cannot hydrate if you do not have any moisture.