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[ubuntu] upgrade 10.04 LTS to 12.04.2 LTS lose VM?

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http://ubuntuforums.org – I would like to upgrade my poweredge 840 from 10.04 LTS to 12.04.02 LTS. I am running Windows 7 on an Oracle Virtual Machine. Will I lose the VM when I upgrade, using the upgrade manager in 10.04 LTS? Thanks. (Hardware)