Windows 7 reinstall dual boot

Hi,

i have a Inspiron  N5110 with Windows 7 on it - and would like to reinstall Windows 7 home premium on it, but keep the old installation active (ie. be able to dual boot the old installation and the new installation).

Is this possible?  Im sure I have done it with older versions of windows, but dont seem to be able to see the option with Windows 7.

thanks for your help