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Yes they are treated as two different pages. To inform the search engines that they are the same page, you need to use the canonical URL tag. Here's Moz.com's info about it : http://moz.com/learn/seo/canonicalization

You can also declare it to Google in Webmaster tools: https://support.google.com/webmasters/answer/1235687?hl=en

Bing also offers this functionnality: http://www.bing.com/blogs/site_blogs/b/webmaster/archive/2012/04/27/better-than-canonical-url-normalization.aspx

I hope this helps !

Thank you both for your comments. I marked it as answered since you seem to agree on the point and clarified my thinking that we would not receive the sought after SEO value of blogging by using iframes.

I will share your answers with our team and try to look for a proper way of doing it.

Thank you Dave for taking the time to answer. Have a good weekend !

Thanks, I really like your answer.

I should have thought about cleaning it in Excel. I will get right on it !