As has been pointed out by Dr. A, the answer to this is yes provided we don't quibble too much about the definition of "species". Might be better to use the term "organizational grades" within clades. Apes are nested within monkeys, and humans are nested within apes, but no modern species is the actual ancestral species of any other modern species (in that example, at least).
My all-time favorite examples of this are found in the right-handed hermit crabs and king crabs. As you are no doubt aware hermit crabs have an elongate, coiled abdomen ("tail") that they hide inside of a snail shell. This abdomen is nearly completely uncalcified except at the tip where it bears a terminal calcified structure and a pair of asymetrical appendages used to anchor the crab to the column of the snail shell. Additionally, hermit crabs tend to have the thoracic (body) segments partially decalcified so that only the front portion (that extends from the snail shell) called the shield is calcified.
King crabs (family Lithodidae, some say superfamily Lithodoidea but I strongly disagree) on the other hand have an abdomen that is partially to completely calcified that is never protected by a snail shell. Additionally the thoracic segments are calcified, at least on the dorsal surface. Despite a superficial resemblance to "true crabs" (Infraorder Brachyura), based on a number of morphological features it has been recognized that king crabs are modified hermit crabs, and more specifically modified right-handed hermit crabs (as opposed to the Diogenoidea, left-handed hermits). This classification has been supported by several molecular analyses. So, this is a case of a daughter group (king crabs) existing alongside the parent group (right-handed hermits), but it is a whole lot more interesting than that.
Within the king crab family there exists a great diversity of body types that have preserved the transitions from a hermit crab-like body to a king crab-type body. For example, the Hapalogastrinae (a subfamily of small, non-commercially important king crabs) have a large, uncalcified abdomen and the carapace margins are soft. In this group the abdomen is protected by being held under the body. Other king crabs have a soft abdomen that is covered in calcified nodules with membrane in between them. In this group we have living representatives where some of these nodules are fused together into plates. In the advanced king crabs these plates are complete with no evidence in the adult of forming from fused nodules (although we see them in the embryos). This same pattern can be seen in the calcification of the thoracic segments, primitive king crabs are partially membranous on the carapace margins, while advanced forms show more complete calcfication and fusion.
Because the highest diversity of king crabs exists in the North Pacific, it is believed that they evolved here. In Alaska we have 20 (perhaps 21) species of king crab, only three of which are common enough and large enough for commercial harvest. We also have 28 species of right-handed hermit crabs including two that exhibit a partial calcification of the abdomen and carapace. Now, it is important to note that I am not saying that any of these are the ancestors of any other, just that the body type of various species preserve the ancestral condition at nearly every step.
Doctor Bashir: "Of all the stories you told me, which were true and which weren't?"
Elim Garak: "My dear Doctor, they're all true"
Doctor Bashir: "Even the lies?"
Elim Garak: "Especially the lies"
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