Easier way is to get your Instrument onto the single - not as pricey.
When you get your ME and already have a I/R you just fly a bunch of approaches and the I/R translates right over to your ME.
In case you get the ME before you get the I/R you will have a longer way around. If money is no issue, get the ME, and get the I/R in a ME, it gives you a bunch of ME PIC time.
Good luck!