A mixed spectral method is proposed and analyzed for the Stokes problem in a semi-infinite channel. The method is based on a generalized Galerkin approximation with Laguerre-functions in the $x$ direction and Legendre-polynomials in the $y$ direction. The well-posedness of this method is established by deriving a lower bound on the {\em inf-sup} constant. Numerical results indicate that the derived lower bound is sharp. Rigorous error analysis is also carried out.