Let $H$ be a Hilbert space and $B(H)$ be the space of all bounded operators on $H$.
The Wold decomposition says that: an operator $x$ in $B(H)$ is an isometry if and only if $x=x_u\oplus x_s$ where $x_u$ and $x_s$ are unitary and unilateral shift respectively. Indeed $x_u$ is the restriction of $x$ to $H_u=\bigcap x^nH$ and $x_s$ is the restriction of $x$ to $H_s$ where,
$$H_s:=H\ominus H_u=\bigoplus_{n\geq0} (x^nH\ominus x^{n+1}H)$$
For $x\in B(H)$, let us denote $e_x$ by the projection onto $xH$.
Q. I am looking for a commuting pair of isometries $(x_1,x_2)$ in $B(H)$ such that all the following hold:
i) $e_y$ commutes with all projections $e_{x^n}$ for $n\geq1$.
ii) $H_s^{(x)}:=H\ominus (\cap x^nH)$ is not $y$-invariant.