Maybe you'll get unlucky and it will trash the cylinder on its way out. How about your no spark problem? That seems unrelated to the reed. I've had spark plugs arc deep inside and not at the gap so it appears they don't spark. When that happens my bike ran EXACTLY as you described. That was fouling caused by an improperly installed right side crankshaft seal.
It only takes a day to remove the cylinder, blow the reed petal out of the crankcase with compressed air, and reinstall. It should cost you a reed block gasket, head gasket, and base gasket (<$20).