No. If you merge a spouse constituent record into their spouse's constituent record and select to delete the source constituent, The Raiser's Edge will not create a spouse relationship for the merged record.

For example, Robert Hernandez and Wendy Hernandez are both constituents and are linked as spouses. If you merge Wendy's record into Robert's record and select to delete the source constituent, Wendy will no longer appear in Robert's spouse field. A Spouse relationship is not maintained when merging these records.