Procedure
Install wget using the Add/Remove Software system tool
> su -
Install kernel sources and set KERN_DIR (adjust path for KERN_DIR based on kernel version installed)
# yum install gcc kernel-devel kernel-headers
# KERN_DIR=/usr/src/kernels/3.4.0-1.fc17.x86_64
# export KERN_DIR
Install Fedora Repo Files (if necessary, "# yum install wget" to install wget)
# cd /etc/yum.repos.d/
# wget http://download.virtualbox.org/virtualbox/rpm/fedora/virtualbox.repo
Update latest packages and check your kernel version
# yum update
The version numbers output by the following commands will match if you are running the latest installed kernel
# rpm -qa kernel |sort |tail -n 1
# uname -r
If a newer kernel has been installed, then reboot
# reboot
Install VirtualBox Latest Version 4.1.x
# yum install VirtualBox-4.1
This includes creating a vboxusers group and adds the VirtualBox user to the vboxusers group.
Rebuild VirtualBox kernel modules
# /etc/init.d/vboxdrv setup
Add the VirtualBox user or users to the vboxusers group (replace user_name with a user name)
# usermod -a -G vboxusers user_name
Start VirtualBox either using the menu launcher, or from the command line:
> VirtualBox