For the record,
Pair Programming refers to a specific way of working in pairs. It involves 2 programmers working on the same lines of code. You could read up on it if that's what interests you.
Another cool way of working in pair is having one person writing tests and the other person writing just enough code to pass these tests, as a binomial
TDD process.
If you're thinking about each programmer doing a part of the project, be careful not to step on each other toes. Set up proper interfaces and avoid overlap of work as much as you can. Also, try pairing with someone familiar with domains you may not be very comfortable with (for example, security, multimedia, deployment and system admin, ...).
Good luck :)