Any way to install new Fedora on second drive of a running system?

[B Wooster]

I wonder if this can be done - I'm have a system that is running Fedora Core 7.

I want to avoid shutting down and rebooting and spending the hours to
install Fedora 10 on this.

I do have a second drive in this system that is not being used.

So, wondering if I could run some special install program, that
formats, partitions the second drive, installs Fedora 10, allows me to
select and update and install packages.

Then after I'm done, I'll just boot using the second drive.

Is this possible?