Dual boot Linux / Windows 7 + Window 7 virtual machine under Linux + licensing

1. Is it legal to use single Windows 7 (home basic) license to install windows on host AND on virtual machine running under Linux on the same host?

   
   

   It will be physically different installations (different partitions), however in the same pc so they will never run at a the same time. Although frequent reboots between two could happen.




2. How to do activations in this case? Just install on host -> activate -> reboot into linux -> install under VM -> activate?