It will support voice and fax calls.
PVDM2 is supported in NM-HDV2, NM-HDV2-1T1/E1 and NM-HDV2-2T1/E1 starting from 12.3(7)T, in classic images IP PLUS above, and cross-platform images IP VOICE and above. NM-HDV2, NM-HDV2-1T1/E1 and NM-HDV2-2T1/E1 are supported on the Cisco 2600XM series, and Cisco 2691, 2811, 2821, 2851, 3725 and 3745 series access routers.
PVDM2 is supported in Cisco 2801, 2811, 2821, 2851 multi-service access routers, starting from 12.3(8)T4 in IP VOICE and above images; and in Cisco 3825 and 3845 multi-service access routers starting from 12.3(11)T in IP VOICE and above images.Please reference each platform's data sheet and Q&A for the maximum number of DSPs on each platform.
This URL will help you:
http://www.cisco.com/en/US/products/ps5854/products_qanda_item0900aecd8016c6ad.shtml