no. parallels only works on an intel mac. MS had a product they purchased from connectix that allowed a powerpc mac to run earlier versions of windows on the mac, but since the emergence of intel-based macs the product was eventually discontinued.
there is a product called guestpc by another vendor that supposedly works by emulating (not virtualizing) an intel system on a powerpc and supports up to windows xp - no vista, no 7, etc.
