Actually, I played the slide intro to Freebird. On a T40. The whole concept of slide on a bass was hilarious to the guy that owned the store, and the fact that a knucklehead like me was willing to subject said classic Peavey to such an indignity just iced the cake for him. It was definitely a high point in my life!
As long as you don't mix up the bass slide with the guitar slide, it's OK.
If you mix them up and use the wrong slide, it could be out of tune.
Don't forget because bass strings are thicker and need more compensation.