Hi BK, I would have thought that you could do it.
Never having done it I would tackle it thusly:
Boot up the VM and go into Device Manager and remove any drivers, so just bog standard windows graphics, sound, motherboard, HDD controller etc.
Look at an imaging tool like Norton Ghost and create an image of the PC.
You can do this on your physical machine through the network.
Then once you have the image you "should" be able to restore it to a physical machine without too many issues?