can I use a Backup Exec RAWS to backup a Server hosting virtual machines?

I am using Backup Exec 2012 on a server running windows server 2003 R2 Standard x64.  This server has an interal LTO-3 tape drive that I back up to.

I am using a Remote agent to backup another server that is running windows server 2008 R2 x64 to the same tape drive.
I am thinking about installing hyper-v on this 2008 server and hosting 2 virtual machines on it.

If I do this, will the RAWS that I using to backup the Host (2008) Server also backup the virtual machines?

I know that there are other options that would work better for backing up virtual environments, but I'm trying to come up with a quick solution that doesn't involve spending more money right now.