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Nine lives
Go to the Option screen and put the cursor on "Players." Then press the following (R = Right and A = the A button) for nine lives:
R, R, R, A, A, A, R, R, R, A, A, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, A, R, R, R.