As per the UGC latest guidelines, a student can do two degree courses parallel provided one of the course is to be in the Distance mode. SO yeah! if you wish to study this course from IGNOU along with your B.El.ED then you are obviously eligible for it and both of your degrees will be valid.

To know about English Hons in IGNOU visit:

http://www.ignou.ac.in/ignou/aboutignou/school/soh/programmes/detail/703/2

To know more about IGNOU visit the link below:

https://www.careers360.com/university/indira-gandhi-national-open-university-new-delhi

I hope this answer helps. All the very best for your future endeavors!