I started searching Google for the easiest process for this and I did find a few solutions. After I performed one, I realized it did not maintain the minimal file size of my 'thin' provisioned disk. My disk was now inflated to its full size on the new disk. I did not want this, I wanted to maintain the 'thin' provisioning, so I searched again.
I finally came upon a response on serverfault from 'ohaal' with step by step instructions on how to copy VMs between datastores and maintain thin provisioned disks (I believe these may have been replicated from another blog but it no longer appears to resolve).
Look for 'Step by step guide using vmkfstools in the CLI' or just see the copied walkthrough below. I do not take credit for this, I simply wanted to replicate it in case it disappears.
I have confirmed this works on ESXi 5.1. Additionally I do not have any snapshots to worry about.