Oracle upgrade during system copy

Hi,

We have a client who is running with sap ecc 5.0 and oracle 9.2.0.6 on HP-ux 11.23. Now there is a requirement to upgrade it to SAP erp 6.0 with ehp7 and oracle 11.2.0.4. I have gone through many SCN posts and oracle upgrade and ehp 7 upgrade guides. Our plan is to Do a system copy on a new hardware with HP-ux 11.31 installed on it. During system copy using R3load method is it possible to do upgrade to oracle 11.2.0.4?

Thanks & regards

Raveesha K R