Solved Legality of Re-installing Windows in a VM in another partition

Since this isn't really a question about virtualization, but more about it's legality, I placed this question on this forum.
I have a MacBook Pro with both OS X and Windows 7 installed on different partitions (Windows is retail DVD, not OEM). My main OS is Windows, but sometimes I need to use iMovie and some other OS X programs and can't be bothered to keep rebooting between the two to be able to access Windows/OS X programs.
I want to re-install my Windows (same key, same DVD) on a virtual host in the OS X partition, which means neither Windows will be on at the same time.
Will this have legal problems or am I good to go?
Or better yet, can I boot my original Windows partition in the virtual host? That would simplify the whole thing. (Of course, that means this would have to be in the Virtualization forum...)

EDIT:
Solved - I found some links to boot my Windows partition is OS X.
http://phaq.phunsites.net/2011/03/05/sharing-windows-7-between-boot-camp-and-virtualbox/
https://luckyviplav.wordpress.com/2010/07/17/windows-7-on-mac-os-x-through-virtual-box/
https://kindlevsmac.wordpress.com/2011/10/14/how-to-run-windows-7-bootcamp-in-virtualbox/

One license is for one system. And a virtual partition is a same as a real system. With anything else you would be in violation of the EULA and have problems with the activation.

With Windows 7, you can legally use the original installation OR a VM installation with the COA Key
If your license is a Retail one, you can legally use it anywhere you like, but ONLY one installation at a time.

If you create a VM with the license, you MUST remove the bare-metal install.