Hmm, when I did:
qemu-img create output.img 10G
sudo vmbuilder kvm ubuntu --suite=lucid --raw=output.img
I ended up with a raw image:
serge@ubuntu:~$ qemu-img info output.img
image: output.img
file format: raw
virtual size: 10G (10737418240 bytes)
disk size: 483M
I've not yet tested with LVM.
There is a vm-builder --raw, but I can't get it to work. If I google
for other people I find they also can not get it to work. Additionally
to make it more painful the documented qemu-img convert also can not
target a LV.
My attempts starting with:
vmbuilder kvm ubuntu --suite=lucid --part /root
