Yes. US to Europe: $150 per bike, each way. Within Europe: ~$123 per bike, each way.
How much does Icelandair charge for a bike between the US and Europe?
$150 per bike, each way. Bike fee: $150 each way from the US to Europe. €135 from Europe to the US. Bikes never count toward your bag allowance, on any fare.
How much does Icelandair charge for a bike within Europe?
~$123 per bike, each way. Bike fee: €105 (about $123) each way between Europe and Iceland. Bikes never count toward your bag allowance, on any fare.