Can I copy my newer macbook to my old one?

So I have a 2010 Macbook pro running on OS 10.7.2 and recently looked into how to upgrade my harddrive to a bigger one. I looked up all the steps and am confident that I'll be able to do it myself (e.g. clone current harddrive, replace it, restore hardrive)

I also have an older 2008-ish macbook (white plastic exterior) running on 10.4.11. I never updated the OS on that one ever. I still use both. I got to thinking... is it possible to just make this old one the same as my newer one with the same clone? Will they newer OS even be able to run on it? If possible I'd love to update the HD on the old one without having to pay for it since I have it on the other one.

Thoughts? Thanks!

 

I Meant update the OS on my old 10.4 (tiger) to the 10.7 (lion) running on the new one!