merging two blogs

hi, i was going to post this in the ‘Advanced’ section but i couldnt.

ok so here is my issue:
i have two wordpress blogs on my site; http://www.mysite.com/one and http://www.mysite.com/two

i want the latest post/article from http://www.mysite.com/two to appear in http://www.mysite.com/one, so it appears on every page on that blog (/one).

now i thought it maybe possible to do it via rss except that the article which is to be imported has images/flv-player in it.
i also didnt know the coding i would need to put inside http://www.mysite.com/one.

the imported article from /two will always appear before any posts made on /one.

so the page structure of /one will look like this:
HEADER
LATEST ARTICLE FROM /TWO
NORMAL ARTICLES (/ONE)
FOOTER

i just need help with the code i need to place in /one.
Thanks in advanced, i appreciate your help 🙂