yeah no problem, as long as you have either IIS or apache installed you can just download the php installation files from www.php.net.
I personally, have IIS installed and am running asp, php, mysql, mssql and asp.net all on one windows XP machine, but I have done the same previously on win2k,98, ME and NT4.
So the answer is Yes,
Andy
Streamerworld Software
http://www.streamerworld.co.uk/