What were you expecting to do, run your second OS within VirtualBox?
There are ways of doing this with Windows 7 I believe, but don't know of a way of doing it with XP - at least not without a lot of tweaking. And I believe the process used Virtual PC which is an MS VM software.
EDIT: Actually you could create an image using something like Macrium Reflect or others and convert it to a .vhd. Macrium has a tool for converting their images. Once it is a .vhd you can load it into VirtualBox. Though it won't be the actual Ubuntu install - just a copy. So anything you do in the VM wont be reflected in the native OS.