No. You will need to slipstream SP3 into your XP Pro and create a new
install disk. This is very easy to do. Of course you will be wise and back
up your data before upgrading.
In addition to Malke's good advice, let me add the following question:
Are you sure you want to do this? Are you aware that XP Home and
Professional are identical except that Professional includes a few
features (mostly related to security and networking) missing from
Home? Most home users don't need and would never use these extra
features and will see no benefits by upgrading.