My personal experience - I lost 80 lbs with a low carb diet and and a bicycle. It is possible to keep yourself out of ketosis and still lose weight. In fact many of the low-carb plans don't recommend ketosis at all.

It's important to drink plenty of water since a low-carb diet in naturally dieuretic. Also, try to eat your carbs immediately after exercise. If you'regoing to do endurance rides lasting longer than an hour, your going to have to keep some muscle glycogen or you'll end up going everywhere at about 12 mph. Trust me on this one.

After a few weeks of riding on the Atkins diet, I felt that my body naturally turned to fat for power rather than draining all my muscle glycogen. As long as I stayed below my anerobic threshold (heart rate) I was fine, even without eating pasta every day. I easily managed to ride 140 plus miles a week while eating low carb.

Of course, YMMV

Peace,
Lou