Yes! You can! But it's not for the faint of heart. There are more details here that are very easy to follow.
http://www.tylercrumpton.com/?p=90
Here is a summary of what you will need to do:
Process Outline
These are the basic steps required to get the job done:
Create the Boot Camp partition and make it bootable.
Copy the source vm’s filesystem to the boot camp partition.
Fix the Boot Camp partition’s mount devices and boot manager.
Fix the Boot Camp partition’s storage controller drivers and registry values.
Profit!
Prerequisites
A Mac computer of course.
Parallels Desktop (I’m using Parallels Desktop 7 for this.)
The Windows 7 virtual machine which is to be cloned to the Boot Camp partition. This will be referred to as the “source VM”.
A second Windows 7 virtual machine which you’ll use to manipulate the source VM and the Boot Camp partition. This will be referred to as the “transfer VM”.
A Windows 7 install disk.
Either a Mac OS X install disk or a second Mac that can be connected via a Firewire cable.
A USB flash drive (of any size).