NLB cluster inside HyperV failover cluster

Hey guru's I can't find any clear doc on this scenario.

I have Hyper V failover cluster on Server 2012 up and running and all is well. I am now being asked to configure a NLB IIS cluster using 4x VM's.

Is this possible?

I am also a little confused on where to configure the NLB cluster. Do I add and configure it on the host nodes? Will this conflict with the HyperV cluster?

OR

Do I build out a VM to host the NLB cluster then add the IIS nodes?

I don't have a test or build environment available to try it on so any help would be great.

Regards

AK