Host website with other provider while keeping emails through Office 365. Possible?

Hello.

I wanted to host my website through other webhost, while keeping my email with Office 365 (small business). Is that possible? I can point my domain's name server to office 365, but I will need to change CNAME for www to point to another web hosting provider. Is that possible? I cant seem to add www CNAME record as it says one already exist pointing to *.sharepoint.com.

How do I do this?

Thanks