I also agree with making two separate seating areas. That room is very, very large and creating separate living areas will help bring some intimacy to the room. You don't have to buy identical rugs either. Just find ones with a common style and that harmonize with the furniture and accent pieces.
Overstock.com was my supplier when I first furnished my home. They have very inexpensive rugs in large sizes, and the same pattern comes in different colors so that I did a "similar but different" look throughout the downstairs.