I sort of depends. If the plant has new root growth and the spike is not so long that you risk breaking it, that would be OK. However, when you repot a plant, you want it to put all its energy into growing roots. If it is also trying to produce flowers, you may get substandard flowers and have the plant re-establish more slowly. If the plant is not desperate for repotting, you might want to wait until after it blooms. The most important consideration when repotting orchids is whether they are currently producing new roots - look for new bright green tips. When the roots are not showing new growth, it is better to wait, as the plant will not re-establish nearly as well.
I hope this helps!