Lubuntu on Virtual Machine: (minimum) disk space requirements?

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http://askubuntu.com – Minimum system requirements for Xubuntu (...) 5 GB of disk space With Lubuntu, you can use computers with even less memory. I read the above as Xubuntu and Lubuntu both requiring a minimum of 5 GB free disk space. For argument's sake, let's say the free disk space requirement were indeed 5 GB for the regular, non-virtual installation of Lubuntu. Would a virtual installation (e.g. in VMWare, VirtualBox, Xen) then necessarily require 5 GB of real, physical space, too? Back in the day, I worked a little with MS Windoze Virtual PC, but don't recall the "conversion factor" (HowTos)