New
#550
Daler,
It sounds like it may be a retail "OEM" copy then. If the OEM installation disc doesn't have SP1 included with it, then you would need to uninstall SP1 from your current installation before you will be able to use it to do a repair install with if that was the same disc you used to install your current installation with. If you are not able to boot into Windows 7, you will still not be able to do a repair install though.
However, with that much trouble and risk, you might consider just biting the bullet and backing up anything that you do not want to lose, then do a clean install instead.