Mark Clalron wrote a handy tool for Mac OS users working with Parallels Desktop: VM2Go.
It aims to simplify management of virtual machines files, providing following features:
- list all of the virtual machines on your Mac
- show the actual disk space used per machine
- transfer virtual machine and the associated virtual hard disks to an iPod or other removable media
- adjust the hard drive references during a transfer so that the VM will load and run regardless of location
- delete a virtual machine and its referenced virtual hard drives
- backup to DVD-R or CD-R your virtual machine and the related virtual hard disks
- restore from DVD to a folder of your choosing
Download it here.