i dont think a mb cd has the proper drivers to power a sr mbp. you could, but i doubt you'd love it.
if you dont want to buy ilife and you're so interested in the update, why not *cough* ilife? oops, looks like some pirates invaded my throat there.
I know that you can't use your MB restore disks to reinstall Tiger on the MBP, but I'm not so sure that the iLife has locks on it. Having said that, if you were to remove iLife '08 from the MB (and as a result, you still have the license, but you're not using it on multiple machines), you might be able to use pacifist to extract iLife for use on the MBP.