Psychopsis Papilio - Time to repot?

[Syrinth]

As you can see from the picture, I've got a pseudobulbt hat's growing out of the top of another one. It seems healthy and its roots are going into the bark below.

I've had this plant for about two years now I think, hasn't done much. I think this might be the first pseudobulb it's put out.

Hmm wondering if I should report this one