Yes,
From Etymology Online;http://www.etymonline.com/index.php?search=saracen&searchmode=none
Saracen
O.E., "an Arab" (in Greek and Roman translations), also, mid-13c., generally, "non-Christian, heathen, pagan," from O.Fr. saracin, from L.L. saracenus, from Gk. sarakenos, usually said to be from Arabic Sharquiyin, accusative plural of sharqiy "eastern," from sharq "east, sunrise," but this is not certain. In medieval times the name was associated with that of Biblical Sarah (q.v.).
The name Greeks and Romans gave to the nomads of the Syrian and Arabian deserts. Specific sense of "Middle Eastern Muslim" is from the Crusades.
sarsen
"large sandstone boulder," 1644, prop. sarsen stone, i.e. Saracen stone, from Saracen (q.v.) in the old sense of "pagan, heathen."[/url]