Windows from a USB drive

If I buy a new Windows 8 CD and want to install it on my CDless desktop, is there a way I could put it on a USB drive and boot/install it form that

I do have a laptop that has a CD drive on it, so i can read the CD on. 

If this works, how would I do it? Or is there another way to do this? These steps are for windows 7 but i would think they would be very close to the same. I would make a thread on build a pc on reddit as well. I would do that for you but im heading out the door.

You could use that tool... The CMD Diskpart thingy, that I won't be discussing per step here, didn't seem to work for me unlike my Windows 7 setup. So I used the tool on the link provided to just make a USB installer for me.

Thanks, never been on reddit before (norwegian, not so popular here..)

The Windows 7 USB/DVD Download tool works fine with an ISO of Windows 8 (I use imgburn to make the ISO of the disc).

if you format youre usb drive with multiboot 10, as  bootable ntfs stick, afther that you copy all files from ya windows 8 cd on the usb device, i guess it needs to work then :)

With windows xp pro it works that way to :)