SurvCE license?

Are SurvCE licenses specific to hardware devices? What I mean is I have an older Explorer 1 with SurvCE 2.5 that is going to wear out in another year, but has the latest SurvCE.... Do I have to repurchase software if I replace hardware? Or can I load SurvCE on new hardware and remove it from old hardware like with say Carlson Survey and a new PC?