Windows 7 Upgrade Advisor will tell you whether your machine can run windows 7 or not. This is a product from Microsoft and this need an installation. So if you need to have a check tou can download it from Microsoft website. Install and run.

if you want to know whether you have hardware virtualization to  run the Xp mode in windows 7  you can check my another post here : http://geekiest.net/post/How-to-Check-Hardware-Virtualization-support.aspx