Generally speaking, the answer to your question is "yes", cardiovascular endurance can be generalized from one activity to another. So if you do lots of biking, for example, your heart, lungs, oxygen carrying capacity of your blood, etc will all improve. So when you go running, your heart, lungs, etc will enable you to perform better than before you did your cycling.
Now as far as the conditioning of specific muscles, changes do take place (such as increased mitochondria) within the muscles needed for an activity. So if you do lots of rowing, you'll still improve you heart, lungs, O2 carrying capacity, etc, but the muscular changes (such as mitochondria density) will change in your upper body. Therefore, it wouldn't help your running as much as cycling would.
So the answer is clear as mud now, right?