Dont have it on this PC as Im a VMware fan myself but the principle should be the same.You should be able to set the iso image as the virtual CDRom and use that to boot from once you have set up the initial "PC" [memory,HD size etc].
If it spins and doesnt boot from it it sounds like either the media is non-bootable,the virtual bios is not set to boot from cd first or a key stroke is required to boot from CD.