As long as you're both comfortable and are ready for that, emotionally, mentally and physically then it should be fine.
I'm really awkward about sex in relationships. If I am hit on I just find it extremely off-putting because I don't know the person and I find it too soon, forget about sex! I like to know a person before I start a relationship and then have to know them whole-heartedly before we build up a sexual relationship.
I think it was a good thing I met my OH online, we were friends for a year and then trialed dating for another year before we went at it physically. It was perfect. =]
I agree with MrMr's point about not confusing the relationship for what it is. As I am highly emotional and relate sex to my emotions I like to know that we are on the same level with eachother. So, I found that it works to take it slow, personally.