VirtualBox Guru Meditation Critical Error

[conradmuan]

After numerous attempts at installing an Ubuntu guest, I am a bit stuck and in need of assistance. After installing Ubuntu and guest additions, I get the VirtualBox Guru Meditation Critical Error crash and am forced to shut down the VM. I'll list as much technical information here and will list more if needed. Any help will be greatly appreciated!

• VirtualBox version 4.2.10
  Guest additions installed
  Host is Win 7 Ultimate 64-bit, 16 GB RAM
  Guest is Ubuntu 12.04 LTS 32-bit, 8GB Memory

I've also attached the guest logfile and the vbox.png zipped

[Perryg]

00:00:02.615648 HWACCM: No VT-x or AMD-V CPU extension found. Reason VERR_VMX_MSR_LOCKED_OR_DISABLED

Enable hardware virtualization in your PC bios and see if it works bettter
You may also need to drop the ram to 3GB unless you have the 686 version and not the 386 version of your guest

[conradmuan]

00:00:02.615648 HWACCM: No VT-x or AMD-V CPU extension found. Reason VERR_VMX_MSR_LOCKED_OR_DISABLED

Enable hardware virtualization in your PC bios and see if it works bettter
You may also need to drop the ram to 3GB unless you have the 686 version and not the 386 version of your guest

Thank you Perryg,
I will try enabling hardware virtualization in the bios. Will report afterwards