[ubuntu] VirtualBox Question?

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http://ubuntuforums.org – I have Windows 7 installed alongside Ubuntu on a 1TB Disc. My computer came with a Windows 7 Recovery partition instead of a DVD. Is it possible to wipe my Hard Drive (excluding the Recovery partition), install Ubuntu and then install Windows 7 in Virtualbox from the partition instead of from a DVD/CD? and if so how? Thanks in advance. (Hardware)