Can I use virtualbox with a 64 Bit image in a 32 bit host

I have Virtualbox 4.1.20 in Ubuntu 12.04 32 Bit (With PAE) and I want to run Ubuntu Server 64 Bit on the Guest. Is this possible?. I ask since I get the following warning:

I want to make sure that there is no option to "emulate" this. I have a 64 bit CPU that supports virtualization. The Intel DZ68DB motherboard with an Intel I7 2600 CPU.

Virtualbox supports running a 64-bit guest VM on a 32-bit physical host, but there are some requirements and other caveats:

From the manual:

VirtualBox supports 64-bit guest operating systems, even on 32-bit host operating systems, provided that the following conditions are met:

• You need a 64-bit processor with hardware virtualization support (see the section called “Hardware vs. software virtualization”).

• You must enable hardware virtualization for the particular VM for which you want 64-bit support; software virtualization is not supported for 64-bit VMs.

• If you want to use 64-bit guest support on a 32-bit host operating system, you must also select a 64-bit operating system for the particular VM. Since supporting 64 bits on 32-bit hosts incurs additional overhead, VirtualBox only enables this support upon explicit request.

• Warning:

• On any host, you should enable the I/O APIC for virtual machines that you intend to use in 64-bit mode. This is especially true for 64-bit Windows VMs. See the section called “"Advanced" tab”. In addition, for 64-bit Windows guests, you should make sure that the VM uses the Intel networking device, since there is no 64-bit driver support for the AMD PCNet card; see the section called “Virtual networking hardware”.