The initial pressure and speed of sound (SOS) distributions cannot both be stably recovered from photoacoustic computed tomography (PACT) measurements alone. Adjunct ultrasound computed tomography (USCT) measurements can be employed to estimate the SOS distribution. Under the conventional image reconstruction approach for combined PACT/USCT systems, the SOS is estimated from the USCT measurements alone and the initial pressure is estimated from the PACT measurements by use of the previously estimated SOS. This approach ignores the acoustic information in the PACT measurements and may require many USCT measurements to accurately reconstruct the SOS. In this work, a joint reconstruction method where the SOS and initial pressure distributions are simultaneously estimated from combined PACT/USCT measurements is proposed. This approach allows accurate estimation of both the initial pressure distribution and the SOS distribution while requiring few USCT measurements.