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As Greg said earlier, Peoplesoft OVM are Oracle VM based. And since Oracle VM is a bare-metal virtualization software, it does not installed on top of a host OS but rather, instead of.
To be used by an other virtualization software, you have to find a way to transform those Oracle VM based templates for your virtualization software compliance. And that might be very tedious, the templates are built on Xen, it means you should remove it first before going to your own VM. You may find some ways over Internet suggesting a move from Oracle VM (bare-metal) to VirtualBox (non bare-metal, installable on top of your host OS), however it does not look so easy to do.
Better and much easier to build a dedicated machine for that.
You may have to ask such question in the Oracle VM Server for x86 though, maybe some VM specialist can help you further.