Bootcamp to Parallels -> Will not boot

I have searched all around, but it seems no one else is having this problem.

I have Bootcamp with Windows 7 installed. With Parallels 4, I would use Parallels for most things, but would also boot into Windows 7 directly. After Parallels 5 came out, I have found I no longer need to use Bootcamp and want to migrate the partition into a Parallels file.

I have followed the directions for Parallels Transporter, and attempted to do this migration multiple times. I get all the way to the step where Parallels is preparing the machine and a bios type screen appears telling me there is no boot device. I have put in my Windows 7 disc and it just tries to install Windows all over again. So I am still stuck with Bootcamp.

Is there a step I am missing? It seems very straightforward, but for some reason it doesn't appear to be copying over the boot files needed for Windows.