I've found a handful of posts mentioning this problem, but no solutions yet.
The command line that I'm trying to run with is
qemu-system-i386 --enable-kvm disk.img
If I remove the --enable-kvm it runs fine. Otherwise, I get a blank screen with
the message "Guest has not initialized the display".
This problem only shows up with the executable that I built from source. If I
use the prebuilt executable from the Ubuntu repository,
it works fine with the --enable-kvm switch. My configuration command is
./configure --prefix=${HOME}/qemu-build --enable-kvm --target-list=i386-softmmu
Any ideas?