Yes, you can meditate while exercising too.
Accomplished runner and leader of Shambhala, Sakyong Mipham has found physical activity to be essential for spiritual well-being. (see here for more)
Running with the Mind of Meditation: Lessons for Training Body and Mind
I’ve written about how meditation is something that can be in every moment of your life: Life as a meditation. That’s what’s happened for me. I don’t run yet these days, but when I walk, hike, do yoga, the dishes or garden, I do it mindfully. Feeling my body move and just generally paying attention.