I think that you are going to be very cramped on it; in height as well as length. It might be a little large for your wife, but there are alot of things that you can do to accommidate her, such as a longer reach stem, but her seat height might not leave room for a shockpost, if that is something that you might need. It will probably work better for her than for you. You really need to do a test ride.