I found some info here, but I didn't get enough out of it to answer my question directly. I think the answer is "Well theoretically, but it's complicated":
http://stackoverflow.com/questions/2768807/quantum-computing...
http://en.wikipedia.org/wiki/Quantum_computer#Potential
http://en.wikipedia.org/wiki/Shor%27s_algorithm
http://en.wikipedia.org/wiki/Post-quantum_cryptography
[...] most currently popular public-key cryptosystems
rely on the integer factorization problem or discrete
logarithm problem, both of which would be easily solvable
on large enough quantum computers using Shor's algorithm.
Even though current publicly known experimental quantum
computing is nowhere near powerful enough to attack real
cryptosystems, many cryptographers are researching new
algorithms, in case quantum computing becomes a threat in
the future.