Do it, do it! Cats are awesome for generating sleep rays. And grin rays, and laugh rays, and snerkpffftbwahahahaha-suuuuure-you-meant-to-do-that rays (after a critfail on the elegance roll, natch).
I might advise looking for a cat that's more willing to sleep in another room than mine is, though. ^^;;; I've averaged an hour or two less sleep a night since getting mine, because either he howls outside the door if I shut him in the hall or he decides that 3 a.m. is "tear around the house like mad and/or walk on human's face until human gets up to entertain master" time.