Is there such thing...?

Yes, it's doable, but do bear in mind there are limitations. You can't create resolution that doesn't exist in the original data, so all you can do is interpolate. This can give pretty decent results, but it's not going to be as good as native HD (in the same way that an upscaling DVD player is inferior to a blu-ray player).

Take a look at Instant HD from Red Giant. I've not used it myself, but have heard good things about it.