The answer is yes. You can use virtual machine to do that. Virtual Machine is a software implementation of a machine (computer) that executes programs like a real machine. In layman term, you can install OS virtually in one computer with capability same as a real computer.. err. can understand or not ??. :) . The most popular virtual machine is VMWare and you can download it free at vmware.com.
There are a lot of Virtual Machine out there from open source license as well as proprietary. You may see comparison of platform virtual machine to help you made a decisions which Virtual Machine is suitable with your needs.
How ever, I would like to share with you how to install ubuntu in MS Virtual PC 2007.
First of all, you need to download Microsoft Virtual PC 2007 and Ubuntu ISO from their respective site. If your internet connection is too slow, you can get a free DVD copy of ubuntu installer from ubuntu request a free cd site. No option for Microsoft Virtual PC 2007, you need to download it with approximate size 30.4MB. Otherwise you can get your friend to help you download it for you or go to cyber cafe and download it. Both file are free.
For this tutorial I will use MS Windows XP as a host, MS Virtual PC 2007 and Ubuntu 8.10 Server Edition.
Step 1
Install MS Virtual PC 2007 . click on setup.exe and follow the installation instruction.
Step 2
Configure virtual pc 2007 to install ubuntu. Click on Microsoft Virtual PC icon in your program files. Since this is your first time, then you need to configure new.
click next and select "Create a virtual machine" radio button. After that, click next.
Named your virtual machine file. You can change virtual machine file location by click on browse button. After that, click next.
Choose operating system from combo box. Choose other since we will install ubuntu then click next.
Allocate RAM for your virtual machine.
Create virtual harddisk for your virtual machine. You can choose an existing virtual harddisk if you already have it. In this tutorial, I'll choose "a new virtual hard disk" option. After that, click next.
You can change virtual harddisk name and location by click on browse button. In the virtual harddisk size input box, you can decide your virtual harddisk size in MB. After that, click next.
You are almost done!. click finish.
Next... How to install Ubuntu in Virtual PC 2007.