Cycas revoluta, aka Sago, will tolerate being root bound but they won't grow as fast or as big. If you want to encourage more and faster growth, then put it into a slightly bigger pot every year or 2.

If you put it into a much bigger pot, the soil mix must be highly porous with perfect drainage otherwise you risk root rot with all that moisture in the pot. Cycads don't grow roots fast enough to compensate for the extra moisture.