Unable to migrate a Virtual PC from one laptop to another

Hi to all,
I have recently bought 2 laptops, which are the same. I installed windows 7 home premium 64 bit on one system and windows XP professional on the other.
I actually wanted to migrate a Virtual PC from one system to another. So, on the laptop with windows 7, I installed the VM player and migrated the virtual pc from another system to this laptop. I started the virtual pc and everything worked well.
My problem started when I copied the installed virtual pc from the first laptop to the laptop with windows XP and the virtual pc could not be started.
When I tried to start the virtual pc from this laptop, I got an error on my screen. The screenshot of the error is as follows:

VMPlayer internal Monitor Error
If you have any information, please help me out. I can't find as to where I am making a mistake.
Waiting for your helpful feedback.
Regards.
