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CRM 4.0 and SQL 2005 on same server

We would like to run both CRM 4.0 and SQL 2005 on the same server.  Server software is MSFT 2003 server.  The server has 2 quad core 3GHZ processors with 4GB or RAM and RAID HD with 120GB.

Will this configuration be enough to accomplish what we would like to do?
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Biffster007
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Hi,

How many concurrent users were you thinking of having??

Cheers,
MH
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We would have about 30 users with only 5 or 6 concurrently on the system at one time.  Excellent suggestion for the virtual servers!