It is not integrable, so your answer is right. As to whether an unbounded function can be Riemann integrable (and thus if the reasoning is as simple as that) it's important to distinguish between proper and improper Riemann integrability.
Regarding proper Riemann integrability, it is true that if a function is unbounded on $[a,b],$ it is not integrable. And we do have $U(f,P) = \infty$ for every partition of $[a,b].$ It is not the case that for $L(f,P)=\infty$ for all partitions, but it's enough that $U(f,P) = \infty$ to prove it the function is not integrable.
For improper Riemann integrability, the function need not be bounded. For instance $1/\sqrt{x}$ has an improper Riemann integral with value $2$ on $[0,1].$ However $1/x$ does not have an improper Riemann integral either on $[0,2]$ since $$ \int_a^2 \frac{1}{x}dx = \ln(2/a)\to_{a\to 0^+} \infty.$$