Latest Desktop does not install on Mac OSX 10.7.4

Hi, I am trying to install Parallels Desktop on a Mac OSX 10.7.4.

At install, the following happens

1. it checks for a latest version to what I have, and says there is a later one and that I should download it. I select to download.

2. After it has downloaded the latest, and tries to install, I receive a message that it cannot install on my version and that desktop can only run on 10.5.2 or higher.

I am running 10.7.4.... and just can't move past this. Annoying!!!

Does Desktop run on 10.7.4? If not, what options are there?

Thanks in advance for any points.

 

PD7 runs of course on 10.7.4. Reboot and try the installation again...