yes, that is where BackupBuddy stands out from many other "backup-only" solutions. It can duplicate a site in it's entirety to another domain. Without the ability un/de/re-serialize, BackupBuddy would not be able to migrate a site fully, so that is part of the functionality.
If you have any other inquiries, please don't hesitate to ask, and you may also wish to check out the Codex articles
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