Microsoft Licensing

I have an old Windows 2003 server that I want to vitualize and run it on a new HyperV host.
I will be purchasing a Volume License for Win2008.
Will this license allow me to run the old Win 2003 as a VM?
Also when I move the OS and power it up for the first time Win 2003 will ask for the Windows Key again, what do I do if it does not accept the original key?
ie0Asked:
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Justin OwensConnect With a Mentor ITIL Problem ManagerCommented:
Use the same Key.  If it has been activated more than twice, you will have to call MS.  Should be a quick phone call to tell them you are virtualizing the server.  You can also do a P2V:

http://technet.microsoft.com/en-us/library/cc764232.aspx

DrUltima
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mmichaConnect With a Mentor Commented:
If you purchase licensing for new versions you are allowed to run older versions of the software.  Doing a P2V conversion should work and not require you to be prompted for a product key again as to the system nothing has changed.  

If it does prompt you however, your exisiting key should work!
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