Moving OEM Version to Another Computer

I currently have a five year old Dell computer that came Office XP
preinstalled on it. I would like to replace the computer with a newer Dell
that I got from a friend. The newer computer does not have Office on it so I
would like to use my old OEM version of Office on it. Can I legally move
this OEM Office from the old computer to the newer one or is it bound to the
origional system like the OS is.