No, ImageReady is for animated gif's. To do a full fledged animated movie, you might look into Adobe Premier and/or After Effects (if you want to stick with Adobe products).
There's also Autodesk Animator (not sure if that's still being produced). And for the high end market, there's the industry standard, Avid... or Discreet's line of Fire, Smoke, Inferno, Flame, Flint, and Combustion.
Fire and Smoke are Discreets non-linear video editing solutions. They both do essentially the same thing in different ways. Inferno, Flame, Flint and Combustion are Discreet's effects and compositing solutions. You don't need them all, I listed them in order of how high end they are.
I've used Premier and After Effects pretty extensively, and they'll definitely do a full fledged animated movie. Premier is Adobe's video editor, while After Effects is Adobe's effects and compositing product. I do know that it's easier to import a series of frames into After Effects, to render them out to a video file, and then take a series of video files (acts, or chapters, if you will) and bring them into Premier for transitioning and looping, titles, credits, etc. Both allow you to manipulate audio tracks, for synching music/speech/sound effects, with the video (meaning time shifting and cutting, not actually editing the waveform).
In essense Premier is a non-linear video editing system, while After Effects is Photoshop for video.
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