I realize that Microsoft’s Windows XP Mode and Windows Virtual PC is only offered to those who use Windows 7 Professional, Windows 7 Enterprise, or Windows 7 Ultimate. Again, for those who are not currently running Windows 7 Professional, Windows 7 Enterprise, or Windows 7 Ultimate, there is an easy upgrade path to Windows 7 Professional or Windows 7 Ultimate through the Windows Anytime Upgrade
program. The upgrade cost through this program is greatly less than a retail upgrade package for Windows 7 Professional or Windows 7 Ultimate
. I believe the cost is $89.95 to upgrade from Windows 7 Home Premium to Windows 7 Professional and DOES NOT require a reinstall.
Also, the alternative solution that Mark proposed is also an option. When creating a dual boot, or multi-boot configuration between Microsoft Windows XP and Windows 7 the first step is to ensure you have a separate location for each operating system you intend to use. In this scenario you will want to have one partition for Windows 7 and a second, separate, partition for Microsoft Windows XP Professional. Just as an added tool, Microsoft has a helpful video of how this process is performed here
. Another great resource is the multiboot step-by-step guide Install more than one operating system (multiboot.)
As Mark also pointed out, a dual boot setup does mean that you will need to select which operating system you wish to use at start up. For example, if you choose to boot into Windows 7 but need to use the application in question within Windows XP you will need to restart your computer and select Windows XP from the boot menu.
Windows Outreach Team – IT Pro