SCOM 2007 R2 and SP1 now supports SQL Server 2005 SP4
System Center Operations Manager 2007 SP1 and System Center Operations Manager 2007 R2 now supports SQL Server 2005 SP4. Note: We will have the Supported Configuration and a KB article posted in the next few weeks to make this more official, but feel free to go ahead and install it.
SCOM 2007 R2 and SP1 now supports SQL Server 2005 SP4 - System Center Operations Manager - Site Home - TechNet Blogs