Hello, 

IGNOU degrees are valid and recognized, so you can definitely pursue higher studies with these degrees. 

Now, admission criteria differs, some may take admission on merit basis and other might conduct entrance exam. For that you need to check with the University that you're seeking admission in. Also, you need to check the eligibility criteria since you have done graduation in commerce stream. Some universities might prefer having English as a main subject at graduation level. 

However, that should not be concern, so many people from different stream go ahead with MA English. 

Hope, this helps.