Most of what I could find on Windows 7 and virtual WinXP is fairly old. It might not be possible anymore as Windows has moved on. I had done what you are asking several years ago and Microsoft had to give permission thru the interface for the WinXP to be downloaded into the virtual environment. It might be possible with VMWare but you would need a WinXP install media of some sort to get it into the virtual environment.
BTW: the implimantation needs the hosting PC to turn on "virtualization"
I'm not an HP employee.
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