Question about branching, merging and reintegrating

I have a question about the following scenario:

I have /trunk and a branch made from trunk that I'm working on (let's call
it /branches/x). I also have a branch created from x (let's call that
/branches/y).

When someone has made a change to trunk i do svn merge ^/trunk in branch
x, and svn merge ^/branches/x in branch y which works as expected.

Is it OK to reintegrate branch x in trunk BEFORE finishing branch y? It
looks like subversion is smart enough to handle this, but before I do too
much work using the current setup I am interested if anyone else has tried
this.

After reintegrating branch x I guess I can just merge branch y directly
with trunk and later reintegrate y into trunk.

Does anyone know if this will work as expected?

-- 
Christer Edvartsen
http://cogo.wordpress.com/