Hi, I'm using VirtualBox to run either Android-x86 4.0-RC2 live installation iso for ASUS Eee PC family android-x86-4.0-RC2-eeepc.iso or android-x86-vm-20120130.iso.gz (use at your own risk as usual) however I'm not able to install apps from Google Play.
I downloaded VirtualBox from the repositories.
Then I have mounted the CD image in VirtualBox. I also recommend installing VirtualBox Extension Pack & Guest Additions.Code:sudo apt-get install virtualbox
See also: android-x86 VirtualBox/VMWare support | BuilDroid