Impulse radio ultra-wideband (IR-UWB) signals stand out for their high temporal resolution, low cost, and large bandwidth, making them a highly promising option for integrated sensing and communication (ISAC) systems. In this paper, we design an ISAC system for a bi-static passive sensing scenario that accommodates multiple targets. Specifically, we introduce two typical modulation schemes, PPM and BPSK, for data transmission. The essential coupling between sensing and communication is examined through the Fisher information matrix (FIM). Accordingly, we introduce a pilot-based decoupling approach that relies on known time-delays, as well as a differential decoupling strategy that uses a known starting symbol position. Finally, we assess the sensing and communication performance under various modulation and demodulation schemes under the constraints of current UWB standards. This assessment utilizes the Cramer-Rao Lower Bound (CRLB) for sensing and the Shannon capacity limit for communication, offering theoretical insights into choosing suitable data signal processing methods in real-world applications.