Yes it is possible.
1.) Create a partition on your drive
2.) Move the ISO to the partition
3.) Install EasyBCD
4.) In EasyBCD: Add New Entry > ISO > Select the ISO. Mode: Load from Memory (Less than 8GB of ram? Run from Disk)
5.) Reboot
You should be greeted with a selection screen, choose the second option to boot to the ISO, follow the install procedure as you normally would.
Don't delete the partition the ISO is contained on until you have installed Windows 7.
1.) Create a partition on your drive
2.) Move the ISO to the partition
3.) Install EasyBCD
4.) In EasyBCD: Add New Entry > ISO > Select the ISO. Mode: Load from Memory (Less than 8GB of ram? Run from Disk)
5.) Reboot
You should be greeted with a selection screen, choose the second option to boot to the ISO, follow the install procedure as you normally would.
Don't delete the partition the ISO is contained on until you have installed Windows 7.