MySQL upgrade and consequences?

Hello,

We need to upgrade MySQL version in order to support Mahara 1.6.3 that is installed on the same server and requires MySQL 5.1 +.

Is thare something to consider regarding our Moodle installtion.  Will it work without problems on the newer MySQL version.

Here is our current status:

Moodle 1.9.7

PHP 5.3.6

MySQL 5.0.92

Thanks in advance.