Is it possible to install FCS 5.1 (Academic) onto an newer iMac with Lion?

So i have Final Cut Studio 5.1 (Academic).  When I tried to install on my New Imac, it would not allow me to do so.  I've heard that the installer is PPC, but the software itself is Universal.  Is this true?  And if so, can someone let me know how I can install it??  Would really appreciate the love!

Niel,
Thanks, so if I format it all as APM I can either clone OSX 10.4.11 which I have on my internal now. If I do a backup of my intel and Powerbook PC both of those will already have Tiger on them so do I need to do another Tiger install on each of those partitions?
Also by doing it this way I can't boot from a parition onto my intel can I?
Guess I'll have to weigh whose system is more important or just back up her drive as GUID on my computer and she can restore from it if she has too but won't be able to boot from it.
S.

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