The critical problem of the pseudo-noise (PN) code acquisition system is the contradiction between the acquisition performance and the calculation complexity. This paper presents a low cost correlator (LCC) structure that can search for two PN code phases in a single accumulation period by eliminating redundant computation. Compared with the part-parallel structure that is composed of two serial correlators (PARALLEL2), the proposed LCC structure has the same performance while saves about 22% chip area and 34% power consumption if uses the Carry-look-ahead (CLA) adder, 17% chip area and 25% power consumption if uses the Ripple-carry (RPL) adder.