First, if your asking if you can convert an existing mirror or single disk to Raid 5, the answer is no.
You dont mention if your using hardware raid or software raid on this system. I would highly recomend hardware raid, it wins performance and reliablity hands down to any other type of raid, the drawback, money. Some hardware controlers may offer the ablity to convert from a single drive into a raid array, so I wont say its impossible from that standpoint.
I would suggest that if your moving to a raid array, software or hardware that you might leave the mirror partition for the boot and system partiion and create a new Raid 5 array in which you can store your data files.
Pete