If you are developing both applications, you can store general information in the keychain if your package identifiers match the same package seed identifier. See here for more details. Of course, if you make both applications, you can use a URL scheme to pass in base64 encoded data.
Update: as shown below, the UIDocumentInteractionController is great, but only available for version 4.2 and higher, so you want to cut out the bulk of your users if you want to use it.
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