imac parallels running xp

I have an imac running 10.8.3 with parallels running windows xp as a program (virtual mode). I can use time machine to backup the mac side and it will also backup windows xp in its entirety. Parallels makes xp a program within mountain lion (10.8.3). So if I want a folder or file only on the xp side I can't retrieve it. I have to use the time machine backup and restore the entire backup of xp without seeing inside of xp. This precludes selecting files or folders only and reinstalling them. If I use TI can I back up (image) the xp portion of the virtual machine? This would allow me the benefit of seeing individual files and folders within xp by mounting the c: drive in xp.