Step 1: You can either install by downloading and installing the rpm directly of use the Fedora repo. There are repo for RHEL and OpenSuSE as well
Step 1a: If you wish to download and install the rpm directly, type the following
# wget
http://download.virtualbox.org/virtualbox/3.0.8/VirtualBox-3.0.8_53138_fedora11-1.i586.rpm
# yum localinstall VirtualBox-3.0.8_53138_fedora11-1.i586.rpm
Step 1b: A better method in my opinion will be by using the repository method
Create a virtualbox.repo file at /etc/yum.repos.d/
# touch /etc/yum.repos.d/virtualbox.repo
# vim virtualbox.repo
-------------------------------
[virtualbox]
name=VirtualBox
baseurl=http://download.virtualbox.org/virtualbox/rpm/fedora/$releasever
enabled=1
gpgcheck=0
---------------------------------
# yum check-update
Step 2: Run setup file for Virtualbox
# /etc/init.d/vboxdrv setup
Step 3: Add yourself as a user in the vboxusers group at /etc/group
# usermod -G vboxusers myserid
Step 4: USB Fix for VirtualBox
# vim /etc/group
----------------------------------------------
# create a new group and add your name to it
usb:x:502:myserid
----------------------------------------------
# vim /etc/fstab
----------------------------------------------
none /sys/bus/usb/drivers usbfs devgid=502,devmode=664 0 0
----------------------------------------------
Step 5: Run VirtualBox
# VirtualBox
Reference: