Installing Visual Studio 2005 and 2012 on same machine

dear fellas,

i have a question to ask regarding vs2005.

currently im using vs2012 to develop system. but i was assign a task to assist develoe other system using vs2005. im a newbie in visual studio that i didnt know much.

i try to install but then it wasnt compatible. and i has been asked to install service pack 1 and second service pack 1. 

my question is if i install the service pack 1 will it effect my vs2012 or any of the vs2012 setting? because i might need to use my vs2012 for later project.

can u help me please?

tq