No it won't fit with the canister. I just installed a Moose plate today. (It's the same as the ThumperTalk and Ricochet plates). I really like the coverage. I didn't want a shovel on the bottom of my bike. This plate is just right. You can take the canister off. It's really simple. I kept all of the pieces just in case CA ever decides to smog motorcycles. If you have any questions about taking the can off, send me a pm.
Thanks,
Curtis