No would be the short answer but here is more info in case you were interested! Also consider buying one PAP and that would entitle all in your party discounts on dining and the hotel discount as well.
2-Park Annual Power Pass
Benefits of Annual Power Pass:
Valid for admission for 365 days from first date of use (with the exception of the blackout dates listed below) to both Universal Studios® and Islands of Adventure
Park-to-Park Access
UNIVERSAL EXPRESS(sm) applicable - click here for complete details
Blackout dates:
Christmas 2003 December 24, 2003 - January 1, 2004
Easter/Spring Break 2004 April 4 - 17
Summer Weekends 2004 June 26 & 27
July 3, 4, 5, 10, 11, 17, 18, 24, 25, and 31
August 1, 7, and 8
Christmas 2004 December 24, 2004 - January 1, 2005
Self-Parking NOT included
NO Discounts on food, merchandise or on-site hotels
Not valid for hard ticket events such as Rock the Universe and Halloween Horror Nights®
10% savings on 1-Day 1-Park Universal Orlando tickets (up to six [6] people, must be purchased at the front gate)