Connecting Transformer to Ethernet PHY
The 88E1111 Product Brief (which is the only interesting document I found), says "Automatic polarity correction" in the features. So it seems you're fine. However, they don't mention it later on, so we don't know how it works and if there are restrictions.

Overall, I wouldn't recommend lauching a 10000 production run without having made sure first, but if you are in prototyping phase, it's definitely worth a try. And if your prototype has problems, you can always make a custom RJ45 cable with flipped P/N wires to make it work.

Note it also does auto MDI/MDIX, so you could have flipped the pairs as well (just sayin').