Is it possible under the EULA to have several virtual machines on a single physical hard disk while using the same OS license or do I need a separate license for each virtual computer?

I have several programs that are not compatible with my 64 bit Windows 7 operating system.  I would like to run each different software under another virtual machine of VMWare (5 packs of different software programs and 5 different virtual machines of Windows XP).  These would all be installed on your laptop.  I can use the same license of Windows XP for each virtual machine, or do I need a separate XP license for each (different XP in case 5 licenses)?

It is lifted directly from my EULA:

1. GRANT OF LICENSE.
The manufacturer that you grant the following rights, provided that
comply you with all terms and conditions of this EULA:
1.1 installation and use.  You may install, use, access,
display and run one copy of the SOFTWARE on
THE COMPUTER.  The SOFTWARE may not be used
by more than two 2-processor both on the
COMPUTER, unless a greater number is
indicated on the certificate of authenticity.
Then...
This means that as long as you are running two or more instances of XP at the same TIME, you agree? Or does this mean that, after you install once, you have reached your limit?
I imagine that most people (including those who are running Microsoft!) will say that the second interpretation is correct.
However...
If this is the case, anyone their hard drive as a backup to clone strategy would violate the EULA!

Tags: Windows

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