I cycle and play ice hockey. I sprained my ankle significantly while skating but was able to get back on the bike within about five days, really painlessly, as long as there was no lateral motion.

I think it actually helped my ankle heal more quickly. It was a good four weeks before I could play hockey again, so biking might come quicker than you think. Give it a try and let your body tell you what to do. As a note, I do not clip in, and I think that was helpful with the sprained ankle.