LinuxDevices have had a look at embedded Ubuntu – what it is and what it can do for you.
Its found here
The EmbeddedUbuntu project was founded on Halloween of last year, and has so far succeeded in creating an emulated ARM environment for x86 development hosts. The environment is based on an ARM port of the GNU C library (libc6), the QEMU ARM interpreter, and the Linux kernel's “miscellaneous binary format” feature. Besides offering relatively unlimited computing resources, the emulated ARM environment allows the use of “traditional” Debian system installation and package management tools, including dpkg, debootstrap, and apt-get, according to the project Wiki.