|You might be able to install xp from a flash drive if the contents of the flash drive are the same as an XP installation cd. But if you're asking if you can copy a running xp installation from one computer to another, the answer is no.|
I think there are sites where you can download a cd image file of the xp disk. I didn't keep track of those sites. Someone may post in with one. As long as the laptop has the xp COA with a product key you should be able to install it OK.