I would like instructions to create a vm on windows 8.1 with my windows xp pro cd

You just want XP mode on Windows 8.1

Details here: https://zeltser.com/how-to-get-a-win...ne-on-windows/

Easiest way... Go to the 'Microsoft Download Centre' & search for: (1) Windows Virtual PC, & (2) XP Mode. Once downloaded, install (1) then (2). ---- That's it - You should be 'Good To Go'!