If you’re upgrading to Mavericks and don’t want to have to pay for a new Parallels version then you can use the free VirtualBox.
In this scenario I’m going from Parallels 4.0 to Virtual Box 4.3.10. If you are migrating from a later version of Parallels you might be able to skip the first 7 steps.
- In the Parallels folder open Parallels Transporter
- Click Continue
- Select Express
- Select Virtual Machine
- Select Virtual Disk
- Choose your Parallels virtual machine
- Click Migrate
- Wait about an hour
- Find the .pvm file for your converted virtual machine.
- Right click and select ‘Show package contents’
- Right click on the .hdd file and select ‘Show package contents’
- Copy the .hds file to somewhere else
- Rename the .hds file to .hdd
- Open VirtualBox
- Create a new Virtual Machine with the .hdd file from above as the virtual disk.
- Run your virtual machine!