Como criar uma Alpha combinada cursor ou ícone no Windows XP

HCURSOR CreateAlphaCursor(void)
{
    HDC hMemDC;
    DWORD dwWidth, dwHeight;
    BITMAPV5HEADER bi;
    HBITMAP hBitmap, hOldBitmap;
    void *lpBits;
    DWORD x,y;
    HCURSOR hAlphaCursor = NULL;

    dwWidth  = 32;  // width of cursor
    dwHeight = 32;  // height of cursor

    ZeroMemory(&bi,sizeof(BITMAPV5HEADER));
    bi.bV5Size           = sizeof(BITMAPV5HEADER);
    bi.bV5Width           = dwWidth;
    bi.bV5Height          = dwHeight;
    bi.bV5Planes = 1;
    bi.bV5BitCount = 32;
    bi.bV5Compression = BI_BITFIELDS;
    // The following mask specification specifies a supported 32 BPP
    // alpha format for Windows XP.
    bi.bV5RedMask   =  0x00FF0000;
    bi.bV5GreenMask =  0x0000FF00;
    bi.bV5BlueMask  =  0x000000FF;
    bi.bV5AlphaMask =  0xFF000000; 

    HDC hdc;
    hdc = GetDC(NULL);

    // Create the DIB section with an alpha channel.
    hBitmap = CreateDIBSection(hdc, (BITMAPINFO *)&bi, DIB_RGB_COLORS, 
        (void **)&lpBits, NULL, (DWORD)0);

    hMemDC = CreateCompatibleDC(hdc);
    ReleaseDC(NULL,hdc);

    // Draw something on the DIB section.
    hOldBitmap = (HBITMAP)SelectObject(hMemDC, hBitmap);
    PatBlt(hMemDC,0,0,dwWidth,dwHeight,WHITENESS);
    SetTextColor(hMemDC,RGB(0,0,0));
    SetBkMode(hMemDC,TRANSPARENT);
    TextOut(hMemDC,0,9,"rgba",4);
    SelectObject(hMemDC, hOldBitmap);
    DeleteDC(hMemDC);

    // Create an empty mask bitmap.
    HBITMAP hMonoBitmap = CreateBitmap(dwWidth,dwHeight,1,1,NULL);

    // Set the alpha values for each pixel in the cursor so that
    // the complete cursor is semi-transparent.
    DWORD *lpdwPixel;
    lpdwPixel = (DWORD *)lpBits;
    for (x=0;x<dwWidth;x++)
       for (y=0;y<dwHeight;y++)
       {
           // Clear the alpha bits
           *lpdwPixel &= 0x00FFFFFF;
           // Set the alpha bits to 0x9F (semi-transparent)
           *lpdwPixel |= 0x9F000000;
           lpdwPixel++;
       }

    ICONINFO ii;
    ii.fIcon = FALSE;  // Change fIcon to TRUE to create an alpha icon
    ii.xHotspot = 0;
    ii.yHotspot = 0;
    ii.hbmMask = hMonoBitmap;
    ii.hbmColor = hBitmap;

    // Create the alpha cursor with the alpha DIB section.
    hAlphaCursor = CreateIconIndirect(&ii);

    DeleteObject(hBitmap);          
    DeleteObject(hMonoBitmap); 

    return hAlphaCursor;
}