I've not done it but looking at the UI and the documentation I'd say yes it does. The report selection dialog allows multiple selection and there's a list box below where you enter the report name that lists the logs you want to report on.
However, I've not tried this and the documentation is for Sam Report not Sam Report Lite so it could be disabled in the Lite version.
I'd test this for you now but we just changed a license server to we need to get a new license for Sam Report Lite. We're also switching from a single license server model to a distributed model but our second location won't be on-line with a license server until I get to our Texas office the week of August 7th. If you Email me on the Week of Aug 14th (to remind me, I'll forget otherwise), I'll be back and able to test to verify 100% if this will work or not.
dyoung@coldspringgranite.com