Can a cylinder leak be repaired without replacing the whole engine?

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Volvo S40 2.4L 5 cylinder. 5 months ago my oil light came on between services and the oil was completely empty. The car was about 3k miles from next service date. Took it in for service and shop didn't find anything. Less than 4.5 months later, car burned through another 6 quarts of oil. Took it to another shop and they did a cylinder test and it looks like two of the cylinders are leaking. Options given from the shop: 1. Sell the car, 2. drop in a new engine. Car has only 155k on it and has never missed a service. Can the cylinders be repaired without replacing the whole engine? This just seems very premature for a volvo. How long have you had this problem? 4 months