Migrating SEPM from MS-SQL back to embedded?

I have seen several articles about moving SEP Manager from the embedded database to Microsoft SQL, but I was wondering if there is a particular technique for moving the other direction -- from SQL back to embedded.

I am in the process of decomissioning our aging SEPM server, and replacing it with a dedicated VM.  Ideally, I would like to get the database on the VM with it, but it is currently connecting to our aging MS-SQL server on another machine.  If SQL Express were supported, I would use that in a hearbeat, but the release notes say that it isn't, which is a shame.

Does anyone know if and how I can move back to the embedded database?  Is it just a matter of backing up and restoring to a fresh install?

Thanks.