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The other recommended option is to install Windows 2008 SP2 on the hardware, add Hyper-V and then run SBS in one VM and another Windows 2008 SP2 VM for SQL. All of that is included with your SBS 2008 license. 
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The other recommended option is to install Windows 2008 SP2 on the hardware, add Hyper-V and then run SBS in one VM and another Windows 2008 SP2 VM for SQL. All of that is included with your SBS 2008 license.

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I have a brand new SBS2008 Premium server - Dell T610 packed with plenty of upgrades.<br />
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The SBS software came with an additional Server 2008 license as well as SQL Server license.<br />
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We currently don't have the hardware to build another x64 machine for Server 2008, but I do need it for some DB development for an in-house BOM management system development.<br />
<br />
Would it be advisable to put SQL server on the same machine as the SBS? &nbsp;
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I have a brand new SBS2008 Premium server - Dell T610 packed with plenty of upgrades.

The SBS software came with an additional Server 2008 license as well as SQL Server license.

We currently don't have the hardware to build another x64 machine for Server 2008, but I do need it for some DB development for an in-house BOM management system development.

Would it be advisable to put SQL server on the same machine as the SBS?  

SBS2008 Premium and SQL 2008 on same machine?

Small Business Server (SBS) is a line of server operating systems targeted at small businesses by bundling the operating system with a number of other Microsoft products that would normally need to be purchased or licensed separately. The most notable inclusions are Exchange, SQL Server, SharePoint and ISA/TMG (Microsoft's firewall and proxy server).

Microsoft SQL Server 2008 is a suite of relational database management system (RDBMS) products providing multi-user database access functionality.Component services include integration (SSIS), reporting (SSRS), analysis (SSAS), data quality, master data, T-SQL and performance tuning. Major improvements include the  Always On technologies and support for unstructured data types.

Microsoft SQL Server 2008

Windows Server 2008 and Windows Server 2008 R2, based on the Microsoft Vista codebase, is the last 32-bit server operating system released by Microsoft. It has a number of versions, including including Foundation, Standard, Enterprise, Datacenter, Web, HPC Server, Itanium and Storage; new features included server core installation and Hyper-V.