Dual boot with WIndows XP and WIndows 7

I recently bought a Dell Inspiron 14 with Windows 7 and found that many of my older programs I use will not run in 64 bit mode, and some do not support Windows 7 at all. I looked at downloading Virtual PC and Windows XP Mode but the processor that came with my laptop (T4300) does not support Virtualization Technology which is required to use XP Mode. My question is two-fold. First is there a way to Dual boot my laptop using both Windows 7 and Windows XP. If not  is there a way to upgrade the processor to one that will support Virtualization Technology?