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If I were your boss I'd absolutely want to know asap and in as clear and honest words as possible so that I can either change my behavior around the client or make myself scarce when it comes to their business. The last thing I'd want to do is for some silly interpersonal problem to ruin a positive business relationship.
That said, your boss may have a completely different reaction. Does your boss have a temper? Does your boss have a big ego? Does your boss take offense easily? I don't know that you can get a good answer here because we don't really know who your boss is and how he might react.
Regardless, best of luck in this.
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