Google announced that you can now link multiple AdWords accounts to a single Google Analytics account. This functionality comes with a new "data sources" section in the account settings in GA, where you can use auto-tagging with multiple AdWords accounts and import AdWords data into GA.
Google provides a step-by-step walk through for setting this up here.
"Before you start, make sure that you're using a Google account that has access to both your Google Analytics and AdWords accounts, and is an Administrator for the Analytics account," notes Gavin Doolan of the Google Analytics Team.
In addition to this new functionality, Google has also made it easier to import Adwords data into multiple profiles in GA: