Create a new virtual machine.
Specify Custom OS.
Select Other Linux.
Specify 256MB RAM.
Create new (empty) 1GB hard disk.
Specify 1GB plain disk.
Choose networking option.
Name the virtual machine OLPC.
Optimize performance for VM.
Uncheck Start Other Linux installation.
(blank) 1GB HD image is created.
Select OLPC VM to run.
Start OLPC VM.
OLPC VM begins to boot.
OLPC VM is booting.
Enter your name.
Your OLPC is running.
Trusty terminal.