Insulin Resistance can be eliminated and that can mean that you avoid progressing to true Diabetes.
Diabetes, however, is an incurable disease and once you actually have it, you will always have it. It is however controllable and losing weight, combined with a proper eating plan and exercise, can indeed mean that you will be able to control it without insulin or oral medications.
I have been battling with Type II for well over 15 years now and had progressed to where I was taking the maximum doses of Glyburide, Metformin, and Actos and (for the past five or six years) using insulin as well. Now that I hve lost 60 pounds, I finally got to eliminate the Insulin

and have dropped both the Glyburide and Actos levels, too.
Afraid I know nothing about PCOS.