Backup Exec 2012 and Backing up *.VHD

Hi,

I'm trying to backup a live running *.VHD file using Backup Exec 2012. Is this possible?

For some reason I am getting Error E0008488 - Access Denied, when running the backup job which causes the whole backup to fail. I have tested the credentials and they all pass. Also these VHD's are stored on a shared cluster storage. I have also made sure the Advanced File Open is running on the backup job.

Thanks!