The interaction between the pair of cold two-level atoms and the single-mode cavity field is investigated. The two-level atoms in the pair are supposed to be indistinguishable. This problem generalizes the two-photon Jaynes-Cummings model of a single two-level atom interacting with the squeezed vacuum. The model of the pair of indistinguishable two-level atoms is equivalent to the problem of the equidistant three-level radiator with equal dipole moment matrix transition elements between the adjacent energy levels. Supposing that at the initial moment the field is in the squeezed vacuum state we obtain the exact analytical solution for the atom-field state-vector. By using this solution the quantum-statistical and squeezing properties of the radiation field are studied and compared with those for the single two-level atom system. It is observed that in the model of the pair of cold two-level atoms the exact periodicity of the squeezing revivals is violated by the analogy with the single two-level atom one.