No you will need a Windows 7 driver for the wireless card (or Vista driver will likely work). If no suitable driver is avalable from the card's product page web site, you will have to buy a new card that is supported in Windows 7 with an appropriate driver. Wireless cards are inexpensive for a mid level unit.
This card works great with Windows 7. Far above average unit and never drops a signal. I have 5/6 of them I use currently.
Windows 7 will not operate a piece of hardware with an XP designed driver. You are out of luck and will have to buy a new $15-$50 wireless adapter. I have some I paid $9 for that work fine with Win 7. Try emailing the support desk of your card and ask if a Win 7/Vista driver is available if you have not checked the product page for updates.
If you are talking about Windows Virtual PC, try googling for a download. Your Windows 7 version may allow a 'virtual XP machine' installation, but you would have to be using that XP installation to be connected with the wireless adapter you have.