Help: what virtual machine to use

I need to return to studying Windows 2008 R2 and Exchane 2010 and my problem is I cannot install Windows 2008 R2 64 bit to my Virtual PC 2007. My OS is Windows 7 Pro 64 bit and I install Virtual PC 2007 to use as my virtual machine but to my dismay, I cannot install Windows 2008 R2 (64 bit). I want to install this so that I can install Exchange 2010 which is automatic 64 bit. Please advise me on this. Do I have to use another virtual machine like VMWare? I s it compatible on Windows 7?
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