Is meditating while on the bike at the gym an effective method of meditation?

Walking meditation : http://www.meditationoasis.com/how-to-meditate/simple-meditations/walking-meditation/ is considered as "just as profound as sitting meditation". If we were to extrapolate this idea into a situation where instead of walking you were on a bike, would an expert's opinion consider this meditating on the bike at the gym an effective practice of meditation?