That should work fine.
Although I've never seen one in the real world, DB/Andrew/CommScope makes a DB220, which is a single folded dipole on a mast.
The specs show it having a 3 db gain.
It's my understanding that DB's single folded dipole has an impedance of about 110 ohms.
An odd quarter wavelength of 75 ohm coax is used to make the impedance transformation from 110 ohms at the dipole, down to 50 ohms at the connector.
DB's phasing harnesses are made up of combinations of 35 ohm, 52 ohm, and 75 ohm coaxial cables
The cable you currently have connected to the dipole should be coded VB11, which if 75 ohms and has a velocity factor of 66%.
If you do the math for 155 MHz, this works out to about 37.75" which is a 3/4 wavelength. If you measure the cable from the dipole lug to the tee-junction, it should be around this dimension. You need to try to maintain this length, as it is critical if you're going to use it to transmit.
I just built a couple of these a couple months ago for my feeds and put them directly on the tower leg. I couldn't be more pleased with the performance.
They really outperform the simple textbook wire dipoles that I was using previously.
In addition, they are side mounted, and DC grounded, which should offer a little more lightning and static protection than open ended dipoles.
I found them to be pretty deaf to any signals on the back side of my test mast, but that is to be expected.
The real beauty of these antennas is that they don't have to be on the top of your mast or tower. By design, they work in conjunction with the (metallic) mast, so you need to make sure the mast you attach it to extends above and below the ends of the dipole about 18".
Good luck.