Can i buy 1 app for 2 iphones?

Yes, I'm a looser: it took me ALL THESE YEARS TO BUY MY 1st 1PHONES! So I have an imac, and ipad, I buy apps and lots of music. BUT: I just pre-ordered 2 iphone 5's: one for me, one for my spouse. We want to share our single iTunes account and continue  to make all our app purchases on same, single iTunes account/Apple ID we've always used on our imac and ipad.
HOWEVER: since we will have 2 iphones5 in 2 weeks: if I buy an iphone photography app on iTunes, will BOTH of us get the app onto our iphones? That is the way we would prefer it but  I'm not sure it works that way. Is this true? thanks!!!!

Thanks Michael, I think I get it now.
I'm so used to thinking of email accounts as something I sign in to and out of. Can you tell me that when I get my new iphone, and put in my unique AppleID on my phone for iMessage/iCloud (and my partner does the same with his unique AppleID/email) do we ever have to re-log in or does iMessage/iCloud keep whatever AppleID we put in and can I pretty much not have to think about it again for those services unless I log out for some reason?
The last thing I don't get: since all purchases are made on our shared-common iTunes/ID, (and I see on my iMac right now that there is a "cloud" service attached to the iTunes/ID already) how do our separte/new/unique iCloud ID's on our 2 phones get any App-Purchase-Info from our iTunes/iCloudID? I understand having an iMessage ID but, will having unique iCloud ID's on our iphones prevent us from sharing iTunes stuff thru it's cloud? (I hope I'm making sense) thx

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