Path FX, type, group, fail

This one's for Monika for sure! 😉

I have two type objects (or it could be one type and one path). I am trying to add a stroke to the combined path but whatever I do, I am not getting what I want.

I have attached a file where I show:

1- the two type objects.

2- the two type objects, each converted to shape with a stroke around it.

3- Grouped objects, added Path FX Add. The stroke is how I want it but anything I tried to get to show the text again fails.

Is there are non-destructive way out (in other words, with FX)?

This is for CS4.

Thanks.