Lost XP Pro Installation CD

Without the Install CD and associated key, Is there a way to back up an XP installation (or create an install CD for the machine) such that I can replace/reload it if a worst case hard drive crash/failure occurs ? Right now I think a failure would be unrecoverable. I just took on a job as a network administrator and some of the machines do not have the installation CDs available. They are genuine XP installations, but no one knows where the CD’s went and didn’t even think they needed to save them. I guess that and a number of other open security reasons is why they needed a tech guy.

Thanks