Lion install from Leopard

Hey All,

Aim: My friend wishes to install Lion without Snow Leopard.

Theory: Since you can make a bootable version of Lion from the download you get from the Mac App Store, would it be possible for him to log into his iTunes account from my machine (Lion installed) and turn that into a bootable disc, allowing him to do a clean install on his MBP?

Can anyone with experience with Lion boot disks be able to verify my theory before we start paying things?

Thanks All,
Chris