Splicing Shielded Wire

Is it acceptable to splice an addition to shielded wiring by simply splicing the interior wires, then splice the shield and cover the whole with shrink tubing?

I've moved the planned location of some headsets and need to add a couple of feet of wire - any problems with what I've outlined? Thanks to all responding.

Yes, it's OK

I did just that when extending the wires for my headset jacks. After talking with the experts at Aerotronics, I was told that a short length where there is no shielding would not matter.
Steve
RV7
N174AS