Can I transfer my license to my wife?

Hi,
I have the latest Parallels version 5 running on my iMac, I don't need it any more and would like my wife to have it for her new MacBook Pro.
I originally bought Parallels version 2, then upgraded to 3, then upgraded to 4 and then upgraded to 5. I have the license codes for the original and all three upgrades.
Can I transfer the license to her and if so, can I just install the version 5 upgrade and enter whatever code(s) it asks for?
If that install scenario is incorrect what do I need to do?
Thanks.

 

Come on, people - anyone??

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