I would say without life, there is no time. 

This is something I ponder quite a bit. In the reality I know, time is a unit of measurement, created by a limited creature who knows beginning and end, in a limitless universe that time has no construct with. 

Two such things shouldn't go together in my mind. 

This I think is more a philosophical question. I don't think man really has the ability to really know the answer to this. 

It's kind of hard to even construct such an experiment or controlled setting to test such a theory, because an observer must be present, and to remove the observer is what gives this theory merit. It's a paradox of sorts.

Nice thought provoking question. I hope my answer makes sense.