Yes. As long as your serial data is modulated at the IR detectors internal band-pass frequency.

Tips:

Use Vishay brand IR modules for reliable serial communications.

Select an IR LED that matches the peak spectral sensitivity of your IR module for max range.

Select IR LEDs with rise/fall times fast enough to support your intended serial data rates.

Over 2400bps, I recommend the TSOP7000 and 870nm GaAlAs IR LEDs. The TSHF5400 or TSFF5200 are outstanding. We use these in our Fyre-Fly for wireless IR communications up to 38,400bps, and wireles boot-loading with the MCS loader at 19,200bps.