Probably, but it'll work better in VMWare (because it has additions for Linux).
Word of warning though: don't use VMWare Player's easy install. I did this and got stuck at the logon screen with a keyboard that didn't work no matter how often I rebooted the VM. After I installed Ubuntu manually it worked fine.
I think the best option for a *nix environment back home is Virtual Box from Sun/Oracle. The Guest Additions work better than the Integration Components in HyperV or VirtualPC (since those are optimized for Windows), and yet is not as resource hungry as
VMware. I wouldn't use VBox in production though - it's not as stable as HyperV or VMware.