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Licensing is not affected at all while upgrading - licenses are bound to CPU sockets only and its instances are managed by the vCenter itself, so you need not to worry. The steps you proposed are correct and the safest way to go
Good luck!
Stop by my blog if you'd like
I dabble in vSphere troubleshooting, PowerCLI scripting and NetApp storage - and I share my journeys at http://vmxp.wordpress.com/