upgrading from 2007A to 8.8.1 and put on new box with newer version of SQL

Here is the scenario, we currently have a client running 2007A on a SQL Server 2005 server.

We want to upgrade to 8.8.1 but on a new server.

Here is what I thought we would do:

Install 8.8.1 and SQL Server 2008 R2 on a new server box.

My questions are:

How do we go about updating SBO Common? (Can we just copy the database over to the new box?)

And if the SQL server didnu2019t change, I know we can just open up the new database and the update of that db will start. Is this the same if the SQL Server goes from 2005 to 2008 (on a new box), but how/when do we change that setting for the db?

thank you,

Laura