SAP ECC Migration from Physical to ESX

Dear All,

My company is moving from Physical Servers to Virtual Platform (Vmware ESX). We are using 7.2 kernel on RHEL 5.3 64 bit for SAP HCM. My plan is;

1) Shutdown all services

2) Clone Physical Server into VM using vCenter Converter

3) change all DNS Base information and update IP address

4) Restart the services on new server with new IP Address

My take is i need to request new License for new Hardware. Please suggest me what else i need to consider during this process.

Thanks.