Only if the ghost is on a bootable dvd or drive or something.
You will need to boot the VHD to the DVD and run a restore from there
Here is the caveat...... not all drives get sized the same.... you can sometimes reimage from a smaller drive to a larger one,,, but sometimes that image will fail... You can always try it.
You can not go from a larger drive to a smaller one... so you would need to create a blank VHD and then set it to boot from a DVD so you can run the image to it. hope that makes since.
As far as I know........
The image of XP for XP mode,,, is not different than any other image,.... it's just an image.
So,, the whole Integration I think in 7 is available no matter which VHD you use.