Run Existing Windows Hard drive as Virtual Machine

Hey all, i have setup my machine as a dual boot between windows XP and Linux (Ubuntu 8.04). When i boot to my linux i downloaded both vmware player and vmworkstation to be able to run windows only programs under the virtual machine. I was told that i could boot my existing windows hard drive as a virtual machine so that i can access all my windows drives, and docs without having to switch back and forth. Is this possible and if it is not is there a way to mount my windows hard drive so it can be accessesed through my virtual machine?