Help w/Windows XP on USB

I inherited an HP Mini 110 Netbook and wanted to reinstall Windows XP. It does not come with a CD Drive but it does have several USB Ports. It is not working. I thought to purchase Windows XP to reinstall it unto the netbook.

My questions:

Is it possible to place the Windows XP in my drive without it installing on my desktop that has Windows 7?

If so, can I install Windows XP onto the USB Flash drive to reinstall Windows XP unto the netbook?

I appreciate your help.