Windows VM licencing?

Software

A question for someone more in tune with Microsoft licensing. Is it acceptable under the terms of the Microsoft EULA to run an OEM copy of Windows XP in a virtual machine, provided its still being run on the same hardware it came on?

I've been running Windows 7 for a few retro games and Visio for about a year, and have finally had enough.

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Ruben Schade is a technical writer and IaaS engineer in Sydney, Australia who refers to himself in the third person in bios. Wait, not BIOS… my brain should be EFI by now.

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