Installing OS X Lion though Parallel 6 on a Mac

I would like to install OS X Lion 10.7 through Parallel 6 on my Mac. My current OS X is Snow Leopard. Just like the attachment shows.

I have the Snow Leopard installation CD which came with my Mac. I figured that I would then upgrade to Lion after installing Snow Leopard on Parallels.

I'm having a lot of trouble. I've combed through the internet for advice.

Can you help me find a solution?

Thanks.

 

Buy the way, I have Lion installed on a partition drive.

 

Some considerations:

* Snow Leopard license doesn't allow it to be installed in a virtual machine, Parallels enforces that license by not allowing such installation, however, Snow Leopard Server is allowed by its license and Parallels.

* You can only install Lion on a VM from Parallels installed on Lion

* The image posted is of Lion running Parallels with Lion installed on a VM and also a Snow Leopard SERVER VM in the VM list.

* I don't understand from your post if you want Snow Leopard as host and Lion on a VM or the other way around. neither is possible, except if the Host is Lion and the VM is Snow leopard Server, or, you dual boot your mac into Snow Leopard and Lion and then install Lion on a VM in Lion, and try to use use that VM in Snow Leopard, not sure if Parallels allows it or not.