Product re-activation on clone?

Upgrading my mac to a newer model, I wish to clone an XP vm and transfer it from the old to the new.
However, upon starting up the vm after moving it, an installed program is asking for an activation key, which was a one use only key and cannot be re-entered.
Is there any way to copy the parallels vm to the new mac with the program working as usual and not looking for a new activation or am I stuck on the old one?

Thanks in advance!