This guide explains how to migrate virtual machines running Virtual Server 2005 R2 Service Pack 1 (SP1) or Virtual PC to Hyper-V. A virtual machine running Virtual Server consists of a configuration file (.vmc) and one or more data files. These data files can include virtual hard disks (.vhd files) and other media files, such as images (.iso files) and virtual floppy disks (.vfd files). Only the .vhd file can be used by Hyper-V. All of the other files used by Virtual PC or Virtual Server are incompatible with Hyper-V.
Virtual Machine Migration Guide: How To Migrate from Virtual Server or Virtual PC to Hyper-V
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