Is there any way I can design my classes for both iPhone4 and iPhone5 using the same xib?
Well short answer to you question is YES;
Long is :- If you user XCode 4.5 and build app that is universal the NIB files and Classes would work perfectly for Iphone 4 and Iphone 5; Understand for you it important to know the version of SDK of these mobiles not the mobile version them self.
Another thing is that iphone 5 size is little bigger then iphone 4 so you need to design accordingly.. please read my answer at Iphone 5 screen resolution issue for better understanding.
Also look at the How to develop or migrate apps for iPhone 5 screen resolution? answer for more clarification on universal app desing.