Quoted from Pin_Guy:Yes I do it all the time, the only problem you may run into is if you accidentally install the wrong code on a machine...
FWIW, I have had problems on SAM games using a drive over 8GB. I'm pretty sure, for whatever reason, when I used a 16GB drive it caused the install to fail.
I used a 32 GB stick on a Spike game and had no issues...