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Since you will need a Telus SIM, my suggestion is to go to a Telus store, and add a new line to YOUR account, and pick up a SIM to fit the new phone of your spouse. At the time of adding the line, the folks at the store should be able to PORT your spouse's number to the new account. One caution: sometimes the names on the account at both ends of the port need to be the same. If so, you can create a second Telus account for your spouse, port the number froth other provider, then go to 'My Account' and link the two accounts. This will make both lines accessible from one login, but does not put both accounts on one bill to my recollection. The folks at the Telus store where you get the SIM can help you out with the intricacies of this process.
In either case, PORTING the number will close the account at the other provider, and they will send you a final reconciliation.
Shared data versus individual data allowances. If you both you around the same amount of data per month, then sharing a block of data slightly larger isn't a bad thing. If you use very different amounts of data, then individual allowances might be a better option. In some cases, there might be a promo or something they can offer you to sway you one way or another with a cheaper price.