Yes, it's a rechargable NiCd Battery.
If you find a 3,6 V NiCd Battery of the same size and Shape,
it should be easy to replace (but it won't last forever)
The most popular Replacement is a Lithium Battery
but it needs a special Socket.
(you find the same on almost every modern PC Mainboard)
Note : These Lithium Batterys are not recharchable,
so you will need a Diode to prevent Charging
otherwise it may explode or leak.
Another solution worth trying :
did someone ever use a Gold-Cap ?
should be a nice experiment