Yes you can do it.
Take care on the below points though
For Layer 2 EtherChannels:
Assign all interfaces in the EtherChannel to the same VLAN, or configure them as trunks. Interfaces with different native VLANs cannot form an EtherChannel.
If you configure an EtherChannel from trunk interfaces, verify that the trunking mode (ISL or 802.1Q) is the same on all the trunks. Inconsistent trunk modes on EtherChannel interfaces can have unexpected results.
An EtherChannel supports the same allowed range of VLANs on all the interfaces in a trunking Layer 2 EtherChannel. If the allowed range of VLANs is not the same, the interfaces do not form an EtherChannel even when PAgP is set to the auto or desirable mode.
Interfaces with different STP path costs can form an EtherChannel as long they are otherwise compatibly configured. Setting different STP path costs does not, by itself, make interfaces incompatible for the formation of an EtherChannel.
http://www.cisco.com/en/US/products/hw/switches/ps646/products_configuration_guide_chapter09186a00801f0a49.html#1021856
HTH
Narayan
