Recently I remembered two old movies I used to watch constantly and loved dearly. I'd forgotten about them for years, until now. The problem is I cannot remember the names of the movies for the life of me. I do however, remember the plots. If you know these movies, please help.

Movie 1 (title was something like magic island, I think.)
The movie's abou this kid who has to read this book for school, but really doesn't want to. One night his parents go out and the babysitter is some old lady who is a family friend (might have been Eartha Kitt). The kid is instructed to read his book that night, but instead plays Super Mario. (This scene really sticks out. He says something about trying to rescue the princess, which gives the babysitter an idea.) He goes back to his room, and the babysitter, who apparently has magic powers, sends him into the book. A gym bag or something of his comes with him, filled with modern things. He still has the book with him, although it canges to what happens, Never-ending story style. The first people he meets are three pirates, a guy, a girl, and one who sorta looked like Shaq. Then there's a scene where he introduces them to bubble gum and it kinda scares them. Then he meets a mermaid, who (can't remember how) temporarily gets legs. It's kinda a blank for a while, but the next thing I remember is some part with them in a temple with cursed treasure, with a GIANT statue that comes to life like on that one episode of Scooby-Doo. When they make their escape, the mermaid looses her legs. The kid gets out of the book somehow and has the whole "wow, I learned a life lesson cliche talk", then sees in an illustration of the book that his gym bag is now the flag of the pirates' ship.

Movie 2
I remember a lot less about this one. All I know is that somehow a kid finds an alien robotic suit that needs him to fight evil aliens. The suit was silvery-blue, I think.

Does any of this sound familiar? Any help would be greatly appreciated.