Maybe, maybe not. I looked for your Virtual System and you have nothing posted; therefore, we have no idea if you're using dipoles, rear ported, front ported, omnis or whatever. Also, we have no idea of the room size and reflectiveness of the remaining walls.
Generally, assuming the room is otherwise relatively lively, this will not be a problem. I take it your wife wants to cover the wall with silk fabric. Normally that's done over a light batting and would not be a problem. If you start adding thick absorbing material behind the silk, then you'll really deaden the room a lot.
Of course, you should look into LEDE technology. That's live-end-dead-end. This is used in some studios and demonstration room. The speakers are at the dead end of the room. It takes a powerful bass speaker to overcome the lost bass reinforcement. If you've got low ceilings and a narrow long room and need to place the speakers on a short wall, then this can be a good solution.
Anyway, generally, so long as you don't get carried away with absorbing material behind the silk, you'll be ok and that'll be a very nice listening room. Yes, you may need to move your speakers back a little closer to the wall, but that's no big deal. Any significant room changes will demand re-setting of the speakers.