  Using the Painlev\'{e} analysis, we investigate the integrability properties
of a system of two coupled nonlinear Schr\"{o}dinger equations that describe
the propagation of orthogonally polarized optical waves in an isotropic medium.
Besides the well-known integrable vector nonlinear Schr\"{o}dinger equation, we
show that there exist a new set of equations passing the Painlev\'{e} test
where the self and cross phase modulational terms are of different magnitude.
We introduce the Hirota bilinearization and the B\"{a}cklund transformation to
obtain soliton solutions and prove integrability by making a change of
variables. The conditions on the third-order susceptibility tensor $\chi^{(3)}
$ imposed by these new integrable equations are explained.
