Alternatively, you can just make your second drive bootable, from the BIOS, and install XP on it.
Then, when you boot, you can press F12, or whatever key depending on your motherboard, to bring up the boot screen and select which drive to boot to. If you do it this way, each OS will be on drive C and you don't have to install XP first.
The only disadvantage of this is that you will have to enter the boot menu at boot-up if the OS you want is not the default. You can also change the default in BIOS.
The advantage of this is that both OS are on C and the two OS are independent. The OS that is not active automatically gets assigned a diffeent drive letter. But, the active OS will always be C as long as you disconnect other drives when you install.
You can wipe out one OS without affecting the other.
You can hide the inactive OS and the active OS will not see the other.