To cut a bazillion-step story short, yes you can claim to have Professional, download and install, but it won't run. You reboot and change the owner and some permissions, then run the VM (the XP mode link won't work). Finally, you create a new machine via the "use existing machine" option, navigate to mumblemumble folder. Then it will run and you can create a new shortcut. However, it will see itself as an unlicensed copy and ask for activation after a while. There are ways around that, of course.
It's easier to slap an XP disc in :-)
I'm working from memory, and I wouldn't feel like posting all the steps here even if I could remember them in detail.