No. You are not supposed to use XP like that. Having a new PC like that negates the EULA since it is a new PC.
Technically you have to buy a new version of XP.
But you can do it. But you cant do it the way you want to. There is no way to make a bootable install disc from a XP already isntalled on a PC.
I do not accept support questions via EMail, PM, IM or my G+ page!
Phone: LG Optimus G Pro
Running: Stock JB from LG with Nova Launcher