You can replicate a VM within the same vCenter using the same vSphere replication appliance. You don't have any additional appliances
SRM is configured between 2 vCenter servers. In this scenario, this VM cannot be protected with SRM
Hope that helps
Thanks for the comment- while I seen that document, my SRM seems to only accept the creating of replicas between the site pairs (incoming/outgoing). I can't figure a way configure a "onsite" replication. The statement "Single vCenter Server Instance" leads me to believe that you can't have a site-pair configuration and be able to to do a onsite replication.
Yes, that's right. You can only use vSphere replication to replicate within the same vCenter or to replicate to a 2nd vCenter server. SRM is a DR solution to replicate between 2 vCenter sites.