If it's one way use a resistor divider or if open collector a pullup should be fine. What is the signal and which way is it going? Ahh, missed the diode, the diode effectively makes it open collector so should work fine.
Mike.
Edit, just realised your diode is the wrong way around. What are you trying to do?
So when high side is 5v, the low side is pulled up and blocked by diode from high side... when high side is 0v it goes through diode and low side is 0v