I have read that you shouldnt go on your bike with any dog.(unless they are travelling in the basket on the front...lol) If you are cycling and they need to stop for any reason..to catch their breath or if they are struggling to keep up, they wont be able to.
Better to teach them to run after a ball, and bring it back to you. Thats what i do with molly, and she will happily do that for half an hour or more,which gives her planty of excercise, and then we have a sedate walk home, and we are both ready for a nap!!