I don't think there is a way to store pagefile.sys anywhere else than the root folder of a drive - but is a workaround to share the drive anyway: You can resize your existing paritition on your SSD to something slightly smaller, and create a second partition on the remaining space to use for the other swapfile. (You may be able to do that straight from the windows 7 partition manager, depending on the partition type, or otherwise through a 3rd party program like partition manager)
You can have windows 7 put its swap file on the C:\ drive as it currently is, and have windows XP put its swap file on your newly created secondary partition on the SSD (D:, E:, F:, whatever drive letter it assigned there)
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