Better (and much cheaper) to have a new barrel made. The 45-70 barrel wall would most likely be far too thin once the reamer got toward the muzzle. You could look for a 480Ruger No. 1 barrel, but taht could be a looonnnggg search.
That's going to be a real boomer!
I had a No.3 re-barrelled to 348 WInchester x 20" (Atkinson) and shot it for venison and Adirondack black bear for many years. What a thumper! In your choice of caliber you'd better have a penchant for loading, and let us know how you did!