In theory it should work, thou another concern would be the maximum execution time, you'll have to set that to a larger value as well.
set_time_limit()
Excerpt from help documentation:
"When called, set_time_limit() restarts the timeout counter from zero. In other words, if the timeout is the
default 30 seconds, and 25 seconds into script execution a call such as set_time_limit(20) is made, the script
will run for a total of 45 seconds before timing out."
You may also have to change the server's maximum execution time for scripts as well but thats other concern entirely. 🙂