Backup VCenter 4 sever - Failing controller

I've got an older physical VCenter server (4.1.0 345043 ) that services a Lab Manager 4 environment and the RAID controller is failing. The SQL DB is on a separate server and so my thought is to go ahead and build up a replacement server in case it fails in the next 24 hours.

Can VCenter be virtual in a Lab manager 4 environment? Any advice is appreciated.