Here are the steps i do to install it on Qemu:
1- First, make sure that you have Qemu installed, If not, for linux users get qemu binaries from QEMU site http://bellard.org/qemu/ then just extract it. In extracted folder you should find the qemu binaries.
2- Then, we make the image file that Ubuntu will be installed on, Ubuntu will see it as it's the PC hard disk. we make this by qemu-img command.
#qemu-img create ubuntu.img -f qcow2 4GThis will make a 4GBytes image named ubuntu.img
Now, we are ready to install Ubuntu on Qemu, if you have the Ubuntu CD you run the next command
#qemu -m 256 -cdrom /dev/cdrom -boot d ubuntu.imgThis command make qemu boot from the CDROM and with RAM 256MB, if you have iso file for ubuntu replace /dev/cdrom by your iso file
The installer will appear, go with the steps of installer. after the installation finish, remove the CD and boot from the image by the command
#qemu -m 256 -boot a ubuntu.imgThis will make qemu boot from the harddisk A represented by ubuntu.img with memory 256MBytes.
Keep in mind that the installation take longer time than normal installion, my installation took 4 hours on a 2.6GHz PC.
See the picture, Ubuntu 7.10 running in Qemu on my SuSE 10.1