Now, miktex is available for selected distributions of linux. Is is possible to install miktex and texlive on the same machine without any problem? If yes, how? Can anybody who has done this share his/her experience?
As long as you don't run out of space on your harddisk, you can install even texlive and miktex.
But using one of them without running into trouble is something for experts. Let's say, miktex were installed on /usr/local/miktex and texlive in /usr/local/texlive.
OK, you could write pathes in your .profile to both, but comment out one or another. If you'd like to change, edit .profile, log out, log in again and proceed.
But miktex and texlive differ. A *.tex file you compiled with miktex might not compile with texlive due to different versions of a package or a document class.
So may advice is: Don't do it until you are an expert.