Moving Parallels to new Mac with M2 chip

I've used Parallels on my MacBook Pro (2016, Intel chip; macOS Monterey 12.6.7) for several years. I'm running Windows 10 for now, but I'll likely purchase Windows 11 rather soon. I'm about to replace my machine with a new MacBook Pro with the M2 chip. I see that Parallels will work with the new machine, but I'm looking for information on how the move will proceed. When I move my data from the old machine to the new, will my current Parallels installation move along with everything else and then require updating? Or will the old Parallels not move at all and require a fresh installation? I'll bet there's a tutorial on all this, but I haven't found it yet.

 

Intel-based Virtual Machines are no longer Portable to Macs using Apple Silicon (M1 or M2 CPU types). You will need to install Parallels 18, buy Windows 11 Professional, and then re-install all apps. Here is the basic article from Parallels. The Most Popular Articles on the Parallels Knowledge Base are also helpful.

The good news is that it works great and is super fast.

 

Many thanks!