I don't think you could wear the Bolero for sun protection- it's made to be warm, and as Denise says, it's black. There are a few manufacturers of sun protective clothing, though, which could be applicable for cycling.

For instance:

http://tinyurl.com/gqyt8

The Sun Precautions Solumbra Full Zip Cycle Shirt

" You cyclists out there gave us your wish list—and here’s your answer: the Solumbra Full Zip Cycle Shirt. Made to take many hours on the saddle, this sun protective powerhouse features the same Ultra Ventilation System (UVS technology) as our Pullover Cycle Shirt (#1580K05). High contrast white fabric and reflective piping ensure maximum visibility while the three deep back pockets ensure plenty of places to put your gear. It has elastic on the back bottom for coverage and a front hidden zipper pocket to secure keys or ID."