You be able move it but not reinstall it. Regardless, I would recommend a 1 piece axle upgrade.
Welding the hub to the shaft is an old school fix for a slipped / stripped key. When you price out your replacement parts, it's more economical to upgrade to a 1 piece ( search US Alloy axles) plus it will give you a better service life.
Do not buy into the hype that you will read about the AMC 20 axle being sub-par! It's a good axle once you upgrade some parts.