depends on why you want to remove it in the 1st place. If it is to apply a polymer product, then no, unless you wash the car afterward and before the application of the polymer product - because the SMR has oils and fillers the polymer won't bond to.
If you're going to wash it anyway, might as well save some $$ and just use Dawn which should also remove the wax.
If your goal is removing/hiding minor swirls, SMR is great stuff - and iif you use carnauba based waxes, just wax right over it.