Maybe. Sort of. I've had success with this trick. YMMV.
Don't use any kind of power drill for this. Use a hand drill aka 'pin chuck'.
Use a small magnet (smaller the better - I use a cylindrical magnet that's 2mm dia. x 3mm long) to find the battery inside the case. At the point on the side or end (not the top) where the magnet is most strongly attracted, drill a small hole through the plastic so you can probe the battery. You need to be accurate so that the hole hits the edge of the battery. You might even use the drill as the probe and stop when you get a stable reading. You certainly don't want to drill into the battery! This should be the positive pole of the battery. The negative of the battery is connected to the chip ground.
Now you've got the battery voltage, but that doesn't tell you too much about the remaining life because the discharge curve for a typical lithium battery is so flat. However, if it's less than 2V9 or certainly 2V8, you need to start thinking about a replacement.
There are also various projects on the net to replace the built-in battery with a replaceable battery.
Ed
Here's my experience playing with a MK48T02 Timekeeper device - same era as the 48Z02, but with an RTC on the silicon, and a crystal in the top hat.
With a MK48T02 (timekeeper), the battery terminals emerge from the IC package at the "pin 12/pin 13" end of the package, and a 32.768kHz crystal is connected to similar terminals at the "pin 1/pin 24" end. (I would imagine the 48Z02 battery pins would be in the same location to keep the Z02 and T02 assembly processes similar)
The pins emerge from the plastic DIP package on the same plane as the normal pins into cutouts which are occupied by the clip of the plastic case which holds the battery+crystal.
The pins are narrow (i.e. the same width the bit of the normal pin which fits in the PCB or IC socket, and (obviously) point up rather than down.
Cautionary points:
1) The plastic DIP package does not have any pin 1 marking. (May not be a problem with an MK48Z02 which will probably have two pins at one end), but MK48T02 tinkerers may want to mark pin 1 on the underside of their device before hacking it.
2) to repeat - The pins going to the "top hat" are thin/fragile. Use wire to match (e.g. wirewrapping thickness insulated wire, and make sure any leads to battery holders etc have sufficient strain relief.
john