Time Machine Question and Boot Camp ?

So, I want to run win xp on my macbook, however when I try the boot camp assistant it gives me an error saying that I need to format my drive and put my information back on.

So, I plan on using time machine for this purpose. However, I'm guessing I can't put on boot camp and partition my drive because my information is not continuous, however I'm wondering if time machine will simply put it back exactly where it was, or if it will solve this problem for me.