After some further investigation, this bug appears to be a qemu-kvm bug.
I installed the lucid version of qemu-kvm, downgraded the domain
definition as follows:
<domain type='kvm'>
[...]
<os>
<type arch='x86_64' machine='pc-0.12'>hvm</type>
^^^^^
[...]
</domain>
And the domain now suspends and resumes reliably.
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https://bugs.launchpad.net/bugs/771227
Title:
Domain save/restore does not work (kvm)
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