Pity it is OEM as they have different rules.
Moving an OEM version of XP is difficult to say the least and calling the activation center will probably disallow activation on the new PC.
Microsofts blag is even when removed from the old PC OEM versions are technically linked to the PC to which they are first installed.
Check with the vendor End User Licence Agreement and OEM EULA for exceptions tho and as Richard said above try installing an calling and see what they say as there are exceptions for DELL machines as they allow it as long as the motherboard is being transferred into the new PC.
Ps there is another solution to your problem but I cannot post that on here as it involves using a corporate edition of XP PM me if you want more info.
