Can I backup a system and load it to a Virtual Machine?

I would like to ask if someone has backup a live system to an image and later load this image to a virtual machine. If so it would be great to provide us some information about the procedure and the configuration needs to be made.

After some reading I believe that a working solution might be the following procedure :

1. Create a virtual System image using a tool like CloneZilla .
2. Convert the image file to a more suitable format like .ova etc
3. Load the formatted file to a virtual machine using virtual box.

Thanks in regard .

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