YES, illegaly
Yes you can create a copy of your license, but be warned it's illegal.
as you can create multiple license's first you need two things.
1) you need a sector copying tool like norton disk edit
2) you need a very small partition of your harddisk say about 4 MB
now here is what you do:
Install your license on the small partition, create a sector backup of this partition.
move the license back on the original disk.
move the license from the disk back on your system where Step 7 runs.
(you should have a working step 7 version by now)
then write the sector copy back on the small partition and then move the recreated license back to your license disk. you should have 2 license's now.
Caution. norton disk editor is very capable of destroying your Harddisk
And take care not to make to many license's.
the other option you have, (but that's not a backup) if your license would be corrupted in any way, use your Fax to reclaim a new license from siemens.