Sadly no, it is NOT possible to check the license of an other application via LVL. It does not matter if you are the developer of both apps, nor does it matter which public-key or package you are providing to the LVL.
A totally other solution is to use in-app-purchasing in the free app. Users then could "buy" just an "unlocking license" via IAP.
Have a look at here: http://grokbase.com/t/gg/android-developers/11c5znp9qh/can-the-lvl-check-for-paid-app-be-done-from-my-free-app