I have two operating systems: Windows 7 Professional and Ubuntu 10.10 (dual boot).
I wish to use this existing Windows installation using VirtualBox in Ubuntu as well as use it in the native mode.
Is it possible to do this?
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Interesting question, but it's probably not possible due to the fact that Virtualbox exposes a "virtual" hardware platform to Windows, whereas your host machine has a completely different "real" hardware platform. Beside the obvious problems with switching between hardware platforms on Virtualbox, Windows will freak out every time you switch and probably require you reactivate, reinstall drivers and so on and so forth.
Yes. It is called raw hard disk access, and it is possible using the vboxmanage command-line tool included in a virtualbox install, see the user manual for at www.virtualbox.org for information on how to do it.
Yes, it is totally possible, I have done it, but it is a bit trickly. The only think I can not deal with is that windows ask for activation when running from VirtualBox, but don't worry, you have to restart windows as real machine, and when you restart it as Virtual machine, it wait for activation 30 days more. Read the following topic in my blog: http://edisonm.dyndns.org/blog/2011/05/05/real-ubuntu-and-windows-7-with-virtualbox/