If by "spray foam" you mean the kind that comes in an aerosol can and
expands to fill a space, or similar items, I think it might be a bad
idea. I am not entirely sure on the details of this, since I have only
seen it used in a few particular places:
- it expands like crazy, and puts a lot of pressure on things that
can't handle it, like drywall, window and door frames (especially
vinyl), etc. It can easily "burst" a wall cavity, or bow a window frame
out of shape.
- it dries to a hard, dense solid, which makes later renovation and
modifications a big pain.

As far as I know, it is best used only in small quantities, for
particular purposes -- like filling up medium-sized gaps in a wall, and
spot-insulation to get rid of drafts.

There are spray insulation products, though, that are meant for entire
walls, like cellulose (fluffed-up newspaper), fiberglass, and other
synthetic products. We did most of our house in cellulose, which
required drilling a few dozen little 1-inch holes in each room to blow
in the insulation.