I have a colleague who has traveled with his bike in a standard bike box (larger than 158cm dimensions) and ET accepted it from Dubai (DXB-ADD-JNB) without any additional charges. It had to be dropped off and collected at the special oversized baggage belt however as the automated baggage sorting system could not handle boxes that size without damaging them.
I would contact ET's Tel Aviv office in advance and ensure they can accept it prior to showing up at the airport with it so you are not surprised. Their contact emails are
[email protected] (airport office) and
[email protected] (town office). If you are in Cloud Nine, they will usually go out of their way to accommodate a reasonable request like this.