On 3 November 2009, Microsoft has just released a new tool called "Disk2vhd v1.3".
It is one of the great A+ P2V utility which allow you to run on a system that's online. You can use this tool to convert a physical machine which runs Windows XP SP2, Windows Server 2003 SP1 and higher including x64 system.
Just double click Disk2vhd.exe and select the volume that you want to convert to a VHD.
By default ,the utility name the VHD using physical computer name.
Once the utility has convert to a VHD, you just create a VM with the desired characteristics and add the VHDs to the VM’s configuration as IDE disks.
To get this tool:- Click here