Anything from Sysinternals is worth a look, I have never used Disk2vhd, but im sure it works like a charm. Remember not to make your VHD bigger than 127GB as Virtual PC cannot handle and will not work with VHD’s of that size. Also Disk2vhd runs Windows XP SP2, Windows Server 2003 SP1, and higher, including x64 systems. Read the full article here.
Run it from live.sysinternals.com
Insert from Sysinternals
Disk2vhd is a utility that creates VHD (Virtual Hard Disk – Microsoft’s Virtual Machine disk format) versions of physical disks for use in Microsoft Virtual PC or Microsoft Hyper-V virtual machines (VMs). The difference between Disk2vhd and other physical-to-virtual tools is that you can run Disk2vhd on a system that’s online. Disk2vhd uses Windows’ Volume Snapshot capability, introduced in Windows XP, to create consistent point-in-time snapshots of the volumes you want to include in a conversion. You can even have Disk2vhd create the VHDs on local volumes, even ones being converted (though performance is better when the VHD is on a disk different than ones being converted).