yup, that's basically how you'd do it, but if you have a fair number of reports it could become a bit of a pain. I'd suggest you look into the Reporting Services Scripter available here: http://www.sqldbatips.com/showarticle.asp?ID=62
It's a great free tool for scripting the migration of reports from one server to another, just like you are doing with UAT/Prod etc...
-Luke.