.htaccess "back door" question

Hi all,

I have a password protected section of the web site, using
mod_auth_pgsql 2.0.3. This part is working fine.

What I'm trying to do is allow access to a specific IP address
(localhost) without supplying a password. This is so the search
engine can index the dynamic pages behind the password protection.
The indexing script is set off by cron. So it's a bit of a "back
door."

Is this even possible? If so, what am I doing wrong. Here's a copy
of .htaccess.

AuthName "Members Only"
AuthType basic
Auth_PG_host localhost
Auth_PG_port xxxx
Auth_PG_user xxxx
Auth_PG_pwd xxxx
Auth_PG_database database
Auth_PG_pwd_table tablename
Auth_PG_uid_field username
Auth_PG_pwd_field password
Auth_PG_encrypted off

require valid-user
Order deny,allow
Deny from all
Allow from 127.0.0.1
Satisfy Any