Short answer: Yes.
Long winded answer: While the scanner ESN is "imprinted" on the SD card, it is overwritten each time the scanner goes through the "Writing to SD Card" process. Or, at least that is the understanding I got when I asked Upman this same question about 6 months ago.
At any rate, there are no problems with interchanging SD cards as I've done so numerous times. If I want to make some programming changes for my car scanner, I'll remove the card and put in my home scanner connected to the computer. After making the changes I use the house scanner to simulate the car scanner to see if I'm getting what I want.