Double installations possible?

Sure hope this isn't in the FAQ, but I'm so green I apparently don't know enough to enter the right search terms!
I'm just converting from a PC and migrating some apps to Parallels on my new MBP, and now have stumbled across an app which says it will run on an Intel Mac, but only under BootCamp and not Parallels (nor Fusion...).
My question: Can I now set up BootCamp and install my same copy (OEM) of XP Pro? I'm expecting to usually boot into Leopard and run Parallels, but would occasionally want to boot directly into XP for this occasional odd one.
Thanks!

 

Yes, you can , just install WIndows XP using Boot Camp assistant
and install Parallels, all other matters are on Parallels, it will create VM automatically