Converting 32-Bit to 64-Bit Windows?

I purchased an HP laptop that came with Windows 7 with a downgrade to XP Pro.  Both 32-bit versions.
However, I am now being asked to put Windows 7 64-Bit on it (I have the media & key).

My question is, are there hardware limitations from changing from a 32-Bit environment to a 64-bit environment?  Here are the specs on the PC:
Intel Core i7-620M 2.66GHz,
4MB L3,
4GB 1333MHz DDR3 SDRAM,
320GB 7200rpm SATA,
15.6" LED-backlit DIsplay,
DVD+/-RW SuperMulti,
NVIDIA Quadro FX 880M,
Webcam,
56K Modem,
Gigabit NIC,
Bluetooth,
802.11a/b/g/n,
Windows XP Pro downgraded from Windows 7 Pro

Can it be done with a simple reformat???
ccorino1Asked:
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HFVgallyConnect With a Mentor Commented:
Yes.
There is of course no upgrade path from XP to 7 and no upgrade path from x86 to x64. Your PC (and pretty much any modern "made for Windows 7" PC) will support 64-bit. Your older external peripherial devices on the other hand may not have suitable drivers or support for the 64 bit platform.
I don't know why all PCs don't automatically come with installation media for both 32 and 64 bit versions of Windows 7, since there is no difference in licensing terms.
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Seth SimmonsConnect With a Mentor Sr. Systems AdministratorCommented:
It's not hardware limitation, you can't do in-place upgrade from XP to Windows 7 and can't do in-place upgrade from 32bit to 64bit.  You will need to do fresh install and reformat.
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alexfariasConnect With a Mentor Commented:
Yes it is possible. Just format the disk and install Win 7, 64-bit
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PowerEdgeTechIT ConsultantCommented:
"I don't know why all PCs don't automatically come with installation media for both 32 and 64 bit versions of Windows 7, since there is no difference in licensing terms."

It is a "feature cost" of buying OEM.  OEM is so much cheaper than Retail, there will be some limitations to its use.  Not having x86/x64 media, like a Retail version would have, is one of those limitations.
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ccorino1Author Commented:
Thank you all for the responses!  This helped greatly.  
I'm also trying to close the question and reward points, but it's giving me an error saying I "need to put in a reason why I want to close the question".

Should I open a new question on Experts Exchange and ask how to fix the problem?  haha...

Thanks again.
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HFVgallyCommented:
@poweredgetech I understand the cost-cutting measure, but it just leads to consumer frustration and confusion. Even within the HP line of Business class products I generally deal with, sometimes they will include the 64 bit restore media, sometimes just the 32 bit with no rhyme or reason.
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