With latest updates as of March 7th

kvm -cdrom Ubuntu.iso
kvm kernel version too old
Could not initialize KVM, will disable KVM support


** Changed in: kvm (Ubuntu)
     Assignee: Scott Zawalski => (unassigned)
       Status: Needs Info => Confirmed

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kvm will not use kvm-intel kernel module.
https://launchpad.net/bugs/90029

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