Yes if the SATA ports are configured correctly.
Depending on your mobo / BIOS the SATA ports can be configured to operate in RAID mode, if this is the case you'll need to create a floppy containing the drivers from the mobo CD then do the whole "press F6 to add extra storage controllers" malarky at the beginning of the windows setup. If the SATA ports are set to IDE or ATA emulation mode (or whatever your particular setup calls them) then you should be able to install without extra drivers.
I would disconnect the IDE drive during the XP setup and that way you'll not end up with the install across both disks as XP has a tendency to do if it feels beligerant. You also then retain a working XP install that you can fall back on if you get problems.
What model of mobo do you have, we might be able to confirm whether you'd need drivers before you start.