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Linus Torvalds would kill you for that. His coding guidelines explicitly state that every function with more than three indents is crap. Create helper functions, which will make your code more readable without having to type 'End If'. Linus also says that the indentation should be 8 chars, then it's even easier to read.
Although I agree with the information, Linus Torvalds isn't the God of programming. That is his style, not everyones. Just cause he does it, doesn't mean I have to. He is a good programmer, don't get me wrong. I can learn a lot from what he has to say, but we are getting into the 'style' part of programming. What makes us comfortable is what we should do....unless working with a team, then you all come up with standards together.