[ubuntu] Virtualizing Fedora Help Please

Maybe a noob question but anyway..

I would like to know how you virtualize operating systems instead of properly installing them, i'm fine with that, but never done virtualizing before.

What software would i need, i have a fedora 17 64bit ISO image saved.

I run a core 2 duo 2.2ghz, 3gb ram ddr2, geforce gt520 graphics card, will my computer be able to run two operating systems at the same time?



Thanks